Aeva Technologies (NASDAQ:AEVA) Shares Up 6.5% - Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shot up 6.5% during trading on Friday . The stock traded as high as $33.44 and last traded at $32.89. 2,356,378 shares traded hands during trading, a decline of 19% from the average session volume of 2,899,560 shares. The stock had previously closed at $30.88.

Analyst Ratings Changes

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

Aeva Technologies Stock Performance

The stock's 50 day simple moving average is $19.70 and its 200 day simple moving average is $9.94. The firm has a market cap of $1.81 billion, a P/E ratio of -11.62 and a beta of 1.95.

Insider Buying and Selling at Aeva Technologies

In related news, Director Hrach Simonian sold 100,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the sale, the director owned 3,597,039 shares in the company, valued at $89,422,389.54. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Saurabh Sinha sold 10,123 shares of Aeva Technologies stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $31.09, for a total value of $314,724.07. Following the transaction, the chief financial officer owned 992,949 shares of the company's stock, valued at $30,870,784.41. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 970,051 shares of company stock valued at $13,224,093 over the last three months. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Hedge funds have recently bought and sold shares of the company. 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 valued at $38,000 after purchasing an additional 5,469 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Aeva Technologies in the 4th quarter valued at about $52,000. Squarepoint Ops LLC bought a new position in shares of Aeva Technologies during the 4th quarter worth approximately $54,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Aeva Technologies in the 4th quarter worth approximately $63,000. Finally, Advisory Services Network LLC bought a new position in shares of Aeva Technologies in the fourth quarter valued at approximately $78,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

About Aeva Technologies

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.