Aeva Technologies (NASDAQ:AEVA) Stock Price Up 6.6% After Analyst Upgrade

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s stock price traded up 6.6% during mid-day trading on Wednesday after Roth Capital raised their price target on the stock from $17.00 to $30.00. Roth Capital currently has a buy rating on the stock. Aeva Technologies traded as high as $27.85 and last traded at $27.53. 761,081 shares changed hands during trading, a decline of 41% from the average session volume of 1,285,382 shares. The stock had previously closed at $25.82.

A number of other equities research analysts have also commented on AEVA. Morgan Stanley upped their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Canaccord Genuity Group increased their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Oppenheimer increased their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Aeva Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 250,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,514,808 shares in the company, valued at approximately $55,182,485.60. This represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 990,411 shares of the firm's stock in a transaction on Monday, March 24th. The stock was bought at an average price of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the acquisition, the insider now directly owns 11,369,715 shares in the company, valued at approximately $49,571,957.40. This represents a 9.54% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 4,213,506 shares of company stock worth $24,985,345 and sold 1,167,228 shares worth $14,036,119. Company insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AEVA. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 5,469 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth about $52,000. Squarepoint Ops LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth about $54,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth about $63,000. Finally, Advisory Services Network LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth about $78,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Trading Down 9.0%

The company's 50 day moving average is $14.72 and its 200-day moving average is $8.04. The company has a market capitalization of $1.38 billion, a P/E ratio of -8.88 and a beta of 1.66.

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.