Aeva Technologies, Inc. (NASDAQ:AEVA) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Aeva Technologies has a consensus “Hold” rating from five analysts: two buys, two holds and one sell. The average 12-month price target is $28.75, with individual targets ranging from $20 to $42.
• AEVA opened at $12.21 and has fallen 10.6%, trading well below its 50-day and 200-day moving averages. The stock has a 52-week range of $8.83 to $31.30 and a market capitalization of approximately $770 million.
• Company insiders sold 536,683 shares worth about $12.2 million during the last quarter, while institutional investors own 62.92% of the stock.

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

A number of equities analysts recently commented on AEVA shares. The Goldman Sachs Group started coverage on Aeva Technologies in a research report on Monday, August 24th. They set a "neutral" rating and a $20.00 price objective on the stock. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 4th. 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. Morgan Stanley raised their target price on Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Oppenheimer reiterated an "outperform" rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th.

Aeva Technologies Stock Down 10.6%

AEVA opened at $12.21 on Tuesday. Aeva Technologies has a twelve month low of $8.83 and a twelve month high of $31.30. 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 has a 50-day moving average price of $17.03 and a 200 day moving average price of $18.48. The company has a market cap of $769.72 million, a PE ratio of -4.47 and a beta of 2.41.

Insider Activity

In other Aeva Technologies news, CEO Soroush Dardashti sold 219,486 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,251,322 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Also, CFO Saurabh Sinha sold 70,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total transaction of $1,484,700.00. Following the transaction, the chief financial officer directly owned 581,372 shares of the company's stock, valued at $12,330,900.12. The trade was a 10.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 536,683 shares of company stock valued at $12,154,457 in the last quarter. Insiders own 36.70% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new position in shares of Aeva Technologies during the 2nd quarter worth about $910,000. Bank of New York Mellon Corp acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth about $2,382,000. Next Capital Management LLC acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth about $211,000. Bank of America Corp DE raised its position in shares of Aeva Technologies by 27.7% during the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company's stock worth $1,448,000 after acquiring an additional 23,856 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Aeva Technologies by 51.7% during the first quarter. Royal Bank of Canada now owns 28,504 shares of the company's stock worth $375,000 after purchasing an additional 9,720 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company's stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops perception and sensing systems based on frequency-modulated continuous-wave (FMCW) technology. Its core products are 4D LiDAR sensors and related software designed to measure an object's location, velocity and other characteristics in real time. The company's technology is intended to support advanced driver-assistance systems, autonomous vehicles and other applications that require high-resolution environmental perception.

Aeva offers automotive and industrial sensing solutions, including its Aeries line of automotive-grade 4D LiDAR sensors and Atlas systems for automated driving and mapping applications.

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