Aeva Technologies (NASDAQ:AEVA) Trading Down 6.9% on Insider Selling

Key Points

• Aeva Technologies shares fell 6.9% after insider sales were disclosed, with the stock trading around $19.55 after dipping as low as $19.39. Trading volume was far below normal, at about 185,371 shares versus an average of 2.41 million.
• Three top executives sold stock on July 8, including CFO Saurabh Sinha, CTO Mina Rezk, and CEO Soroush Salehian Dardashti. The company said the sales were made to cover tax withholding obligations tied to vesting equity awards.
• Analysts currently assign Aeva a Hold consensus rating with a price target of $25.33. The company recently beat earnings expectations, reporting a smaller-than-expected loss, but it is still forecast to post a loss for the current fiscal year.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) were down 6.9% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $19.39 and last traded at $19.55. Approximately 185,371 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,411,695 shares. The stock had previously closed at $20.99.

Specifically, CFO Saurabh Sinha sold 20,620 shares of Aeva Technologies stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $436,319.20. Following the completion of the sale, the chief financial officer owned 658,202 shares of the company's stock, valued at approximately $13,927,554.32. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 64,821 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $1,371,612.36. Following the completion of the transaction, the chief technology officer owned 1,537,527 shares in the company, valued at approximately $32,534,071.32. This trade represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 64,821 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $1,371,612.36. Following the transaction, the chief executive officer directly owned 1,595,136 shares of the company's stock, valued at $33,753,077.76. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

AEVA has been the subject of a number of research analyst reports. Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Aeva Technologies has an average rating of "Hold" and a consensus price target of $25.33.

Aeva Technologies Stock Performance

The stock's 50-day simple moving average is $22.65 and its 200-day simple moving average is $17.49. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -3.89 and a beta of 2.40. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. Analysts forecast that Aeva Technologies, Inc. will post -2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP raised its holdings in Aeva Technologies by 122.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company's stock valued at $30,000 after acquiring an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Aeva Technologies during the 4th quarter worth $33,000. Jones Financial Companies Lllp grew its holdings in shares of Aeva Technologies by 27,345.0% during the 1st 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. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeva Technologies in the fourth quarter worth $47,000. Finally, Daiwa Securities Group Inc. raised its stake in Aeva Technologies by 79.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company's stock valued at $58,000 after purchasing an additional 1,922 shares in the last quarter. Institutional investors own 62.92% of the company's stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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