Aeva Technologies (NASDAQ:AEVA) Rating Increased to Hold at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Aeva Technologies to “Hold,” bringing the analyst consensus to Hold with an average price target of $28.75. Other firms remain divided, with price targets ranging from $26 to $42.
• AEVA opened at $16.46, compared with a 52-week range of $8.83 to $31.30, and has a market capitalization of approximately $1.04 billion. The stock’s recent trading levels remain below its 50-day moving average of $20.88.
• Insiders have been selling shares: the CTO and CFO recently sold a combined 170,000 shares, while insiders have sold 1.29 million shares worth about $30.6 million over the past 90 days.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group to a "hold" rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

AEVA has been the subject of a number of other reports. Weiss Ratings downgraded Aeva Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. Morgan Stanley raised their target price 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. Oppenheimer reaffirmed an "outperform" rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Canaccord Genuity Group increased their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Aeva Technologies from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.75.

Aeva Technologies Stock Performance

Shares of AEVA opened at $16.46 on Friday. The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52. The business has a 50-day simple moving average of $20.88 and a two-hundred day simple moving average of $18.25. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -6.03 and a beta of 2.47. Aeva Technologies has a 52 week low of $8.83 and a 52 week high of $31.30.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 100,000 shares of Aeva Technologies stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the sale, the chief technology officer owned 1,606,669 shares of the company's stock, valued at approximately $38,576,122.69. This trade represents a 5.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Saurabh Sinha sold 70,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total value of $1,484,700.00. Following the completion of the transaction, the chief financial officer directly owned 581,372 shares in the company, valued at approximately $12,330,900.12. This represents a 10.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,292,344 shares of company stock valued at $30,568,186. 36.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of AEVA. Duquesne Family Office LLC purchased a new stake in Aeva Technologies in the 3rd quarter worth $26,670,000. Millennium Management LLC purchased a new position in shares of Aeva Technologies during the third quarter valued at about $25,751,000. Handelsbanken Fonder AB grew its position in shares of Aeva Technologies by 158.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company's stock valued at $19,202,000 after purchasing an additional 885,774 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Aeva Technologies by 2,814.6% in the second quarter. California State Teachers Retirement System now owns 651,973 shares of the company's stock worth $18,725,000 after purchasing an additional 629,604 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Aeva Technologies by 1,223.8% in the second quarter. Invesco Ltd. now owns 614,411 shares of the company's stock worth $23,219,000 after purchasing an additional 567,998 shares during the last quarter. Institutional investors own 62.92% of the company's stock.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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