Aeva Technologies (NASDAQ:AEVA) Trading 12.6% Higher - Still a Buy?

Key Points

• Shares rose 12.6% to $13.08 on Tuesday (intraday high $13.25) on volume of 550,136 shares, about 80% below average; the stock had closed at $11.62 the prior session.
• Analyst views are mixed: Canaccord reaffirmed a Buy with a $24 target while Weiss Ratings remains a Sell, and the consensus rating is a Hold with a $26.50 price target.
• Insiders have been net sellers this quarter—including CTO and CFO sales—with 1,064,292 shares sold (~$15.17M) while insiders still own 27.2% of the company and institutions own about 62.9%.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded up 12.6% during trading on Tuesday . The stock traded as high as $13.25 and last traded at $13.08. 550,136 shares traded hands during trading, a decline of 80% from the average session volume of 2,746,163 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

Several brokerages recently weighed in on AEVA. Canaccord Genuity Group restated a "buy" rating and issued a $24.00 price target on shares of Aeva Technologies in a research note on Thursday, December 4th. Weiss Ratings reissued a "sell (e+)" rating on shares of Aeva Technologies in a report on Friday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $26.50.

Aeva Technologies Price Performance

The stock's fifty day moving average price is $14.22 and its 200-day moving average price is $14.71. The firm has a market cap of $836.61 million, a PE ratio of -2.62 and a beta of 2.09. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.28 and a quick ratio of 4.12.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 64,787 shares of the firm's stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the completion of the sale, the chief technology officer directly owned 1,469,760 shares in the company, valued at approximately $27,704,976. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Saurabh Sinha sold 32,079 shares of Aeva Technologies stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer directly owned 595,677 shares in the company, valued at $8,303,737.38. This trade represents a 5.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,064,292 shares of company stock valued at $15,170,040. Corporate insiders own 27.20% of the company's stock.

Institutional Trading of Aeva Technologies

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Aeva Technologies by 29.2% during the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company's stock worth $146,000 after purchasing an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after purchasing an additional 630 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Aeva Technologies in the second quarter valued at $938,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Aeva Technologies by 1,122.9% in the second quarter. JPMorgan Chase & Co. now owns 350,431 shares of the company's stock valued at $13,243,000 after buying an additional 321,775 shares in the last quarter. Hedge funds and other institutional investors own 62.92% of the company's stock.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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