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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Roth Capital upped their target price on shares of 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 lowered shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Morgan Stanley upped their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Canaccord Genuity Group upped their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Oppenheimer upped their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.00.

Aeva Technologies Stock Performance

The firm's 50-day moving average price is $24.75 and its two-hundred day moving average price is $12.21. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -8.07 and a beta of 1.95.

Insider Activity

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 3,514,808 shares of the company's stock, valued at approximately $55,182,485.60. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hrach Simonian sold 100,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the sale, the director directly owned 3,597,039 shares in the company, valued at $89,422,389.54. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 897,164 shares of company stock worth $16,544,953. 27.20% of the stock is owned by insiders.

Institutional Trading of Aeva Technologies

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares in the last quarter. Jones Financial Companies Lllp lifted 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 purchasing an additional 5,469 shares in the last quarter. Perennial Advisors LLC acquired a new stake in shares of Aeva Technologies during the second quarter worth about $227,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Aeva Technologies during the second quarter worth about $335,000. Finally, Inspire Investing LLC acquired a new stake in shares of Aeva Technologies during the second quarter worth about $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.

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