Canaccord Genuity Group Initiates Coverage on Aeva Technologies (NYSE:AEVA)

Canaccord Genuity Group started coverage on shares of Aeva Technologies (NYSE:AEVA - Free Report) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $9.50 target price on the stock.

AEVA has been the subject of a number of other reports. Morgan Stanley boosted their target price on Aeva Technologies from $4.87 to $5.22 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Oppenheimer boosted their price objective on Aeva Technologies from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.54.

Aeva Technologies Stock Down 10.1 %

AEVA stock traded down $0.74 during midday trading on Tuesday, hitting $6.57. The company's stock had a trading volume of 1,072,712 shares, compared to its average volume of 424,766. The firm has a 50-day simple moving average of $4.22 and a 200-day simple moving average of $4.12. The firm has a market capitalization of $359.47 million, a P/E ratio of -2.13 and a beta of 1.03. Aeva Technologies has a 52-week low of $2.20 and a 52-week high of $7.53.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 70,000 shares of Aeva Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.79, for a total value of $195,300.00. Following the sale, the chief technology officer now owns 8,696,669 shares of the company's stock, valued at approximately $24,263,706.51. The trade was a 0.80 % 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, Director Stephen Paul Zadesky sold 14,851 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $3.50, for a total value of $51,978.50. Following the transaction, the director now directly owns 83,764 shares of the company's stock, valued at approximately $293,174. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 4,213,506 shares of company stock worth $24,985,345 and have sold 292,151 shares worth $1,374,029. 29.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Aeva Technologies by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 211,452 shares of the company's stock worth $696,000 after purchasing an additional 8,007 shares in the last quarter. State Street Corp grew its stake in Aeva Technologies by 5.5% in the 3rd quarter. State Street Corp now owns 452,309 shares of the company's stock valued at $1,488,000 after acquiring an additional 23,593 shares during the last quarter. Barclays PLC increased its holdings in Aeva Technologies by 276.4% during the 3rd quarter. Barclays PLC now owns 29,910 shares of the company's stock valued at $98,000 after acquiring an additional 21,964 shares in the last quarter. Geode Capital Management LLC raised its position in Aeva Technologies by 14.2% during the third quarter. Geode Capital Management LLC now owns 611,873 shares of the company's stock worth $2,013,000 after acquiring an additional 76,044 shares during the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 62.92% of the company's stock.

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.