Aeva Technologies (NASDAQ:AEVA) Trading Down 4.8% - Here's Why

Key Points

• Aeva Technologies' stock dropped 4.8%, trading at $17.30, with an abnormal trading volume significantly lower than its average.
• Recent analyst ratings show a wide range of target prices, with Roth Capital raising it to $30.00, while Wall Street Zen downgraded to a "sell".
• Insider trading activity includes significant sales by both the CFO and CEO, suggesting potential concerns over the company's stock performance.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s share price dropped 4.8% during mid-day trading on Wednesday . The company traded as low as $17.20 and last traded at $17.30. Approximately 194,373 shares were traded during trading, a decline of 90% from the average daily volume of 1,903,172 shares. The stock had previously closed at $18.17.

Analyst Ratings Changes

AEVA has been the topic of a number of research reports. Roth Capital increased 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. Morgan Stanley increased their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Oppenheimer increased 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. Finally, Wall Street Zen lowered shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Aeva Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Stock Performance

The stock's 50-day moving average is $17.11 and its 200 day moving average is $15.67. The stock has a market capitalization of $965.50 million, a PE ratio of -3.12 and a beta of 2.00.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.51 million during the quarter, compared to analysts' expectations of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. Analysts expect that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CFO Saurabh Sinha sold 160,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $13.33, for a total transaction of $2,132,800.00. Following the transaction, the chief financial officer directly owned 810,710 shares of the company's stock, valued at approximately $10,806,764.30. This trade represents a 16.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the transaction, the chief executive officer directly owned 2,134,808 shares in the company, valued at $28,713,167.60. The trade was a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,822 shares of company stock valued at $13,961,215 in the last ninety days. Insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Aeva Technologies by 92.2% in 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. Quantbot Technologies LP acquired a new stake in shares of Aeva Technologies in the second quarter valued at about $36,000. Jones Financial Companies Lllp lifted its stake in shares of Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock valued at $38,000 after purchasing an additional 5,469 shares during the period. Total Investment Management Inc. acquired a new stake in shares of Aeva Technologies in the second quarter valued at about $43,000. Finally, AlphaQuest LLC purchased a new position in Aeva Technologies during the 2nd quarter valued at about $51,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.