Aeva Technologies (NASDAQ:AEVA) Stock Price Down 1.8% - Here's What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s share price fell 1.8% on Wednesday . The company traded as low as $25.60 and last traded at $26.02. 564,655 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,597,089 shares. The stock had previously closed at $26.50.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Canaccord Genuity Group upped their price objective on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Roth Capital upped their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley boosted their price objective on Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Oppenheimer raised their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Aeva Technologies Stock Up 11.3%

The stock has a market cap of $1.69 billion, a P/E ratio of -10.84 and a beta of 1.95. The stock has a fifty day simple moving average of $23.06 and a 200-day simple moving average of $11.29.

Insider Activity

In other Aeva Technologies news, Director Hrach Simonian sold 100,000 shares of the 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 sale, the director directly owned 3,597,039 shares in the company, valued at approximately $89,422,389.54. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,514,808 shares of the company's stock, valued at $55,182,485.60. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,022,164 shares of company stock worth $17,337,453 in the last ninety days. Company insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Aeva Technologies by 170.0% during the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after buying an additional 30,380 shares during the period. Deutsche Bank AG raised its position in Aeva Technologies by 510.8% during the fourth quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock worth $214,000 after acquiring an additional 37,665 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Aeva Technologies in the 4th quarter valued at about $174,000. Two Sigma Investments LP lifted its position in shares of Aeva Technologies by 308.6% in the fourth quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock valued at $353,000 after buying an additional 56,107 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after purchasing an additional 623,889 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors.

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.