Aeva Technologies (NASDAQ:AEVA) Trading Up 2.3% - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shares rose 2.3% during trading on Thursday . The company traded as high as $32.00 and last traded at $31.58. Approximately 1,162,451 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,518,715 shares. The stock had previously closed at $30.88.

Wall Street Analysts Forecast Growth

AEVA has been the subject of several research reports. Oppenheimer lifted their target price on Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Roth Capital boosted their price objective on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Canaccord Genuity Group lifted their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley boosted their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Aeva Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Aeva Technologies Stock Performance

The business's 50-day moving average is $19.70 and its two-hundred day moving average is $9.98. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.62 and a beta of 1.95.

Insiders Place Their Bets

In related news, Director Hrach Simonian sold 100,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the completion of the transaction, the director directly owned 3,597,039 shares of the company's stock, valued at approximately $89,422,389.54. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the transaction, the chief executive officer directly owned 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 970,051 shares of company stock worth $13,224,093. 27.20% of the stock is owned by company insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in AEVA. Sylebra Capital LLC lifted its position in Aeva Technologies by 56.4% during the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock worth $113,600,000 after buying an additional 5,849,249 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $96,000 after purchasing an additional 630 shares during the last quarter. AQR Capital Management LLC grew its stake in Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company's stock valued at $146,000 after purchasing an additional 4,707 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Aeva Technologies by 81.5% during the first quarter. American Century Companies Inc. now owns 46,623 shares of the company's stock worth $326,000 after buying an additional 20,934 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.