Aeva Technologies (NASDAQ:AEVA) Trading 2.7% Higher - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price traded up 2.7% during mid-day trading on Friday . The company traded as high as $32.00 and last traded at $31.51. 862,928 shares changed hands during trading, a decline of 47% from the average session volume of 1,621,744 shares. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Canaccord Genuity Group boosted their price target on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Roth Capital increased 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. Finally, Oppenheimer boosted their price target on Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Aeva Technologies Stock Up 2.9%

The business has a 50 day moving average price of $23.47 and a two-hundred day moving average price of $11.47. The stock has a market cap of $1.74 billion, a P/E ratio of -11.16 and a beta of 1.95.

Insiders Place Their Bets

In related news, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction that occurred 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 owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction 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 technology officer directly owned 8,046,669 shares in the company, valued at approximately $126,332,703.30. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,022,164 shares of company stock worth $17,337,453 over the last three months. 27.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of large investors have recently made changes to their positions in the business. Perennial Advisors LLC acquired a new position in shares of Aeva Technologies during the second quarter worth $227,000. GAMMA Investing LLC grew its position in Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares during the period. Sylebra Capital LLC grew 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 purchasing an additional 5,849,249 shares during the period. Jones Financial Companies Lllp grew its position in Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after purchasing an additional 5,469 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aeva Technologies by 4.8% during the 1st 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 during the period. 62.92% of the stock is 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.

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