Aeva Technologies (NASDAQ:AEVA) Stock Price Down 2.2% - Should You Sell?

Key Points

• Aeva Technologies' stock fell by 2.2%, trading between $22.50 and $23.05, with a significant decline in trading volume, dropping 60% from the average.
• Analyst ratings for Aeva Technologies are mixed, with five buy ratings, one sell rating, and two hold ratings; the average target price is $17.00.
• Insider activity has seen significant sales, with CEO Soroush Salehian Dardashti selling 250,000 shares, reducing his ownership by 6.64%.
• Institutional investors hold 62.92% of Aeva's stock, with notable increases in holdings by hedge funds like GAMMA Investing LLC and Jones Financial Companies.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) traded down 2.2% on Friday . The stock traded as low as $22.50 and last traded at $23.05. 665,583 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,656,038 shares. The stock had previously closed at $23.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Roth Capital increased their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Morgan Stanley raised 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. Wall Street Zen cut shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Canaccord Genuity Group raised their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Oppenheimer raised their price target on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Aeva Technologies Stock Up 2.4%

The company has a market cap of $1.21 billion, a price-to-earnings ratio of -7.77 and a beta of 1.95. The company's fifty day moving average price is $24.81 and its two-hundred day moving average price is $12.44.

Insider Activity at Aeva Technologies

In related news, Director Hrach Simonian sold 100,000 shares of the firm'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 sale, the director owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 69,901 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $30.53, for a total transaction of $2,134,077.53. Following the completion of the sale, the chief executive officer directly owned 1,897,862 shares of the company's stock, valued at approximately $57,941,726.86. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 859,053 shares of company stock worth $16,254,547. 27.20% of the stock is currently owned by company insiders.

Institutional Trading of Aeva Technologies

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings 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 acquiring an additional 415 shares during the period. Jones Financial Companies Lllp lifted its position in Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after acquiring an additional 5,469 shares in the last quarter. Perennial Advisors LLC acquired a new stake in Aeva Technologies in the 2nd quarter valued at $227,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Aeva Technologies in the 2nd quarter valued at $335,000. Finally, Inspire Investing LLC acquired a new stake in Aeva Technologies in the 2nd quarter valued at $386,000. Institutional investors and hedge funds own 62.92% of the company's stock.

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.