Aeva Technologies (NASDAQ:AEVA) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Aeva Technologies from “strong sell” to “sell,” though the rating remains negative.
• Analyst opinions are mixed: MarketBeat reports an average rating of “Hold” and an average price target of $28.75.
• Aeva shares were reported down 10.3%; company insiders sold 224,581 shares worth about $3.2 million over the past 90 days.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Oppenheimer reaffirmed an "outperform" rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Morgan Stanley increased their price objective on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. The Goldman Sachs Group started coverage on shares of Aeva Technologies in a research report on Monday, August 24th. They set a "neutral" rating and a $20.00 price objective on the stock. Canaccord Genuity Group raised their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, September 4th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.75.

Aeva Technologies Trading Down 10.3%

Aeva Technologies stock opened at $10.58 on Friday. Aeva Technologies has a 12-month low of $8.26 and a 12-month high of $31.30. The firm has a market capitalization of $739.54 million, a price-to-earnings ratio of -3.85 and a beta of 2.56. The firm has a 50 day moving average of $12.69 and a 200 day moving average of $16.58. The company has a current ratio of 6.26, a quick ratio of 7.63 and a debt-to-equity ratio of 2.24.

Insider Buying and Selling

In related news, CTO Mina Rezk sold 50,000 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $12.08, for a total value of $604,000.00. Following the transaction, the chief technology officer directly owned 1,556,669 shares of the company's stock, valued at approximately $18,804,561.52. The trade was a 3.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Soroush Dardashti sold 42,262 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $8.82, for a total value of $372,750.84. Following the completion of the transaction, the chief executive officer directly owned 1,487,471 shares in the company, valued at approximately $13,119,494.22. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 224,581 shares of company stock worth $3,216,322. 36.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of Aeva Technologies during the 2nd quarter valued at about $2,382,000. Titan Global Capital Management USA LLC grew its position in shares of Aeva Technologies by 95.1% during the first quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company's stock valued at $2,102,000 after purchasing an additional 77,856 shares in the last quarter. Brooklands Fund Management Ltd bought a new stake in shares of Aeva Technologies in the third quarter worth about $23,158,000. Sona Asset Management US LLC bought a new stake in shares of Aeva Technologies in the first quarter worth about $987,000. Finally, Siren L.L.C. bought a new stake in shares of Aeva Technologies in the first quarter worth about $1,448,000. Institutional investors own 62.92% of the company's stock.

Aeva Technologies Company Profile

Aeva Technologies develops lidar sensing systems and perception software for automotive and other industrial applications. Its technology uses frequency-modulated continuous-wave (FMCW) lidar to measure distance and the speed of objects, supporting applications such as vehicle perception and automation. The company's offerings include lidar sensors designed for automotive use, including its Atlas system, as well as sensing and perception solutions for industrial customers. Aeva's products are intended to help machines detect and interpret objects in their surroundings.

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