1,649,438 Shares of Aeva Technologies, Inc. $AEVA Purchased by Brooklands Fund Management Ltd

Key Points

• Brooklands Fund Management purchased 1,649,438 Aeva Technologies shares worth approximately $23.2 million, representing a 2.62% stake and 3.4% of its portfolio. Institutional investors collectively own 62.92% of Aeva.
• Analyst sentiment is mixed: Aeva has a consensus “Hold” rating and a $28.75 target price, with ratings ranging from “Strong Sell” to “Buy.”
• Aeva shares opened at $9.94, near their 52-week low of $8.83 and well below the $31.30 high. Company insiders sold 509,245 shares worth $11.7 million over the past 90 days.

Brooklands Fund Management Ltd purchased a new stake in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,649,438 shares of the company's stock, valued at approximately $23,158,000. Aeva Technologies comprises about 3.4% of Brooklands Fund Management Ltd's portfolio, making the stock its 14th largest holding. Brooklands Fund Management Ltd owned 2.62% of Aeva Technologies at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Oppenheimer & Co. Inc. raised its position in Aeva Technologies by 181.0% during the third quarter. Oppenheimer & Co. Inc. now owns 97,933 shares of the company's stock valued at $1,375,000 after purchasing an additional 63,078 shares during the period. Inspire Investing LLC boosted its holdings in shares of Aeva Technologies by 83.9% in the 3rd quarter. Inspire Investing LLC now owns 45,181 shares of the company's stock worth $634,000 after purchasing an additional 20,615 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Aeva Technologies in the 2nd quarter worth approximately $910,000. Bank of New York Mellon Corp purchased a new position in shares of Aeva Technologies in the 2nd quarter worth approximately $2,382,000. Finally, Next Capital Management LLC bought a new position in shares of Aeva Technologies during the 2nd quarter valued at approximately $211,000. Institutional investors own 62.92% of the company's stock.

Analyst Upgrades and Downgrades

AEVA has been the topic of several recent research reports. Wall Street Zen lowered Aeva Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. The Goldman Sachs Group began coverage on shares of Aeva Technologies in a research note on Monday, August 24th. They set a "neutral" rating and a $20.00 price objective for the company. Weiss Ratings raised shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, September 4th. Canaccord Genuity Group boosted 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, Oppenheimer reissued an "outperform" rating and issued a $42.00 target price on shares of Aeva Technologies in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Aeva Technologies currently has a consensus rating of "Hold" and a consensus target price of $28.75.

Insider Activity

In related news, CEO Soroush Dardashti sold 30,514 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $24.32, for a total value of $742,100.48. Following the transaction, the chief executive officer owned 1,220,808 shares of the company's stock, valued at $29,690,050.56. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 34,146 shares of Aeva Technologies stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $14.83, for a total transaction of $506,385.18. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 509,245 shares of company stock valued at $11,731,912. 36.70% of the stock is currently owned by company insiders.

Aeva Technologies Stock Performance

Shares of Aeva Technologies stock opened at $9.94 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 stock's fifty day moving average is $13.93 and its two-hundred day moving average is $17.00. Aeva Technologies, Inc. has a 52 week low of $8.83 and a 52 week high of $31.30. The company has a market capitalization of $626.62 million, a PE ratio of -3.64 and a beta of 2.41.

Aeva Technologies Profile

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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