Aeva Technologies, Inc. (NASDAQ:AEVA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Aeva Technologies has a consensus “Hold” rating from five analysts: one Sell, two Holds and two Buys. The average 12-month price target is $28.75, ranging from $20 to $42.
• Company insiders have recently sold significant amounts of stock, including CEO Soroush Dardashti’s $5.27 million sale and CTO Mina Rezk’s $2.40 million sale; insiders sold 701,141 shares worth $15.7 million over the past quarter.
• AEVA shares opened at $15.25 after a reported 5.9% gain, while institutional investors and hedge funds collectively own 62.92% of the company.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) has been assigned an average recommendation of "Hold" from the five ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.75.

Several research analysts have weighed in on the company. The Goldman Sachs Group began coverage on Aeva Technologies in a report on Monday, August 24th. They set a "neutral" rating and a $20.00 target price on the stock. Morgan Stanley raised their price target on Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Wall Street Zen cut Aeva Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Canaccord Genuity Group boosted their price objective on Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Oppenheimer reissued an "outperform" rating and set a $42.00 target price on shares of Aeva Technologies in a research note on Thursday, August 6th.

Insider Buying and Selling at Aeva Technologies

In related news, CEO Soroush Dardashti sold 219,486 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $24.03, for a total transaction of $5,274,248.58. Following the sale, the chief executive officer directly owned 1,251,322 shares in the company, valued at $30,069,267.66. This trade represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Mina Rezk sold 100,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $38,576,122.69. The trade was a 5.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 701,141 shares of company stock valued at $15,709,746. 36.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Aeva Technologies in the 4th quarter valued at approximately $47,000. Rockefeller Capital Management L.P. lifted its stake in Aeva Technologies by 19.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company's stock valued at $95,000 after acquiring an additional 1,159 shares in the last quarter. KPP Advisory Services LLC acquired a new position in Aeva Technologies during the 1st quarter worth approximately $160,000. Next Capital Management LLC bought a new position in shares of Aeva Technologies during the 2nd quarter worth approximately $211,000. Finally, AXQ Capital LP bought a new position in shares of Aeva Technologies during the 4th quarter worth approximately $248,000. 62.92% of the stock is owned by institutional investors and hedge funds.

Aeva Technologies Trading Up 5.9%

Shares of NASDAQ AEVA opened at $15.25 on Friday. Aeva Technologies has a twelve month low of $8.83 and a twelve month high of $31.30. The stock has a market cap of $961.38 million, a price-to-earnings ratio of -5.59 and a beta of 2.44. 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 company's fifty day moving average is $17.91 and its 200-day moving average is $18.56.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops sensing and perception technology for autonomous systems. The company's core products are frequency-modulated continuous-wave (FMCW) 4D lidar systems, which are designed to measure the distance, velocity and position of objects while generating detailed three-dimensional views of the surrounding environment.

Aeva's technology is intended for use in advanced driver-assistance systems, autonomous vehicles, industrial automation, robotics, mapping and other machine-perception applications.

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