Aeva Technologies (NASDAQ:AEVA) Trading 4.7% Higher - Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $30.64 and last traded at $30.02. Approximately 1,795,164 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 1,498,452 shares. The stock had previously closed at $28.66.

Wall Street Analyst Weigh In

AEVA has been the topic of several research reports. Morgan Stanley upped their target price on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Oppenheimer upped their target price on Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Canaccord Genuity Group upped their target price on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Roth Capital upped their target price on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Aeva Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Aeva Technologies Trading Up 6.5%

The firm has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $9.94. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.62 and a beta of 1.95.

Insider Buying and Selling

In other Aeva Technologies news, CTO Mina Rezk sold 250,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the sale, the chief technology officer directly owned 8,046,669 shares of the company's stock, valued at approximately $126,332,703.30. This trade represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 970,051 shares of company stock valued at $13,224,093 over the last quarter. 27.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake 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 acquiring an additional 5,469 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Aeva Technologies during the 4th quarter worth about $52,000. Squarepoint Ops LLC purchased a new stake in shares of Aeva Technologies during the 4th quarter worth about $54,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Aeva Technologies during the 4th quarter worth about $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after acquiring an additional 630 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

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.