Aeva Technologies, Inc. (NASDAQ:AEVA) Stock Has Average Price Target of $28.75 According to Brokerages

Key Points

• Analyst sentiment is mixed: Five brokerages give Aeva Technologies an average “Hold” rating, split between two buys, two holds, and one sell. Their average 12-month price target is $28.75.
• Recent targets include Canaccord Genuity’s $26 (Buy), Morgan Stanley’s $27 (Equal Weight), and Goldman Sachs’ $20 (Neutral); Wall Street Zen downgraded the stock to “Strong Sell.”
• Insiders sold about 580,000 shares worth $12.4 million over the past 90 days, while institutional investors own 62.92% of the stock. Reported executive sales were to cover tax withholding on vested equity awards.

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

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Aeva Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 4th. The Goldman Sachs Group assumed coverage on Aeva Technologies in a report on Monday, August 24th. They issued a "neutral" rating and a $20.00 target price on the stock. Canaccord Genuity Group raised their target price on Aeva Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley lifted their target price on Aeva Technologies from $18.50 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th.

Aeva Technologies Trading Up 19.7%

Shares of AEVA opened at $11.00 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 7.63 and a current ratio of 7.85. Aeva Technologies has a fifty-two week low of $8.26 and a fifty-two week high of $31.30. The firm has a market cap of $693.44 million, a price-to-earnings ratio of -4.00 and a beta of 2.56. The firm has a 50 day moving average price of $13.03 and a 200-day moving average price of $16.69.

Insider Activity

In other Aeva Technologies news, CTO Mina Rezk sold 28,173 shares of the firm'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 $248,485.86. Following the completion of the transaction, the chief technology officer directly owned 1,499,060 shares in the company, valued at $13,221,709.20. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 34,146 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $14.83, for a total transaction of $506,385.18. Following the completion of the sale, the chief financial officer owned 547,226 shares of the company's stock, valued at $8,115,361.58. The trade was a 5.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 579,680 shares of company stock worth $12,353,149 over the last 90 days. Company insiders own 36.70% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors have recently bought and sold shares of AEVA. Russell Investments Group Ltd. grew its holdings in Aeva Technologies by 15.6% during the third quarter. Russell Investments Group Ltd. now owns 13,067 shares of the company's stock worth $183,000 after acquiring an additional 1,765 shares during the period. CenterBook Partners LP raised its stake in shares of Aeva Technologies by 174.2% during the third quarter. CenterBook Partners LP now owns 481,383 shares of the company's stock valued at $6,759,000 after acquiring an additional 305,792 shares during the last quarter. Integrity Alliance LLC. purchased a new position in Aeva Technologies in the 3rd quarter valued at approximately $205,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Aeva Technologies during the third quarter worth about $378,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Aeva Technologies during the 3rd quarter worth approximately $23,158,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

About Aeva Technologies

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company's core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object's location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.

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