Aeva Technologies (NASDAQ:AEVA) Trading Down 2.3% - Should You Sell?

Key Points

• Aeva Technologies shares fell 2.3% during trading, reaching a low of $18.90 before settling at $19.95, with mid-day trading volume down 28% from average levels.
• Brokerages have revised their price targets for Aeva, with Roth Capital increasing its target from $17.00 to $30.00, while Oppenheimer raised it to $33.00, amidst a consensus rating of "Moderate Buy" and an average price target of $17.00.
• Insider trading activity included significant stock sales by the CFO and a director, with insiders collectively selling over 859,053 shares valued at $16.25 million in recent months.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 2.3% during mid-day trading on Wednesday . The stock traded as low as $18.90 and last traded at $19.95. 1,200,400 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 1,671,793 shares. The stock had previously closed at $20.43.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AEVA shares. Oppenheimer lifted their price target on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of Aeva Technologies from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Roth Capital lifted their price target 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. Canaccord Genuity Group lifted their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley lifted their price objective on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Aeva Technologies has an average rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Stock Down 15.0%

The business's 50 day moving average is $25.20 and its 200 day moving average is $12.84. The company has a market cap of $872.07 million, a P/E ratio of -2.88 and a beta of 1.95.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 130.04% and a negative net margin of 2,178.31%. The firm had revenue of $5.51 million during the quarter, compared to analysts' expectations of $3.40 million. As a group, equities research analysts forecast that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Insider Activity

In other news, 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 sale, the chief executive officer directly owned 3,514,808 shares of the company's stock, valued at $55,182,485.60. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hrach Simonian sold 100,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were 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 trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 772,164 shares of company stock valued at $15,598,535 over the last three months. Company insiders own 27.20% of the company's stock.

Institutional Investors Weigh In On Aeva Technologies

Large investors have recently made changes to their positions in the stock. Sylebra Capital LLC boosted its holdings in Aeva Technologies by 56.4% in the first quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after purchasing an additional 5,849,249 shares during the last quarter. Parkwood LLC boosted its holdings in Aeva Technologies by 415.7% in the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock valued at $6,776,000 after purchasing an additional 1,150,000 shares during the last quarter. Jane Street Group LLC boosted its holdings in Aeva Technologies by 2,490.3% in the fourth 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. Informed Momentum Co LLC purchased a new stake in Aeva Technologies in the first quarter valued at $781,000. Finally, LPL Financial LLC purchased a new stake in Aeva Technologies in the fourth quarter valued at $451,000. 62.92% of the stock is owned by hedge funds and other 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.