Aeva Technologies (NASDAQ:AEVA) Shares Up 6.5% - Here's Why

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AEVA shares. Oppenheimer lifted their target price 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. Wall Street Zen upgraded shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Canaccord Genuity Group lifted their target price on shares of 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 target price 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. Finally, 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 report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $14.50.

Aeva Technologies Stock Performance

The company has a market capitalization of $1.85 billion, a P/E ratio of -11.88 and a beta of 1.95. The business's fifty day simple moving average is $20.23 and its 200-day simple moving average is $10.23.

Insider Activity at Aeva Technologies

In other news, Director Hrach Simonian sold 100,000 shares of the business'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 directly owned 3,597,039 shares in the company, valued at $89,422,389.54. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the business's 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 completion of the sale, the chief executive officer owned 3,514,808 shares in the company, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 970,051 shares of company stock valued at $13,224,093. 27.20% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock worth $96,000 after buying an additional 630 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company's stock worth $146,000 after buying an additional 4,707 shares during the last quarter. Barclays PLC increased its holdings in shares of Aeva Technologies by 16.3% in the 4th quarter. Barclays PLC now owns 34,800 shares of the company's stock worth $166,000 after buying an additional 4,890 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Aeva Technologies by 13.2% in the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock worth $255,000 after buying an additional 6,238 shares during the last quarter. 62.92% of the stock is currently owned by 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.