Bank of America Corp DE Buys 30,380 Shares of Aeva Technologies, Inc. (NASDAQ:AEVA)

Bank of America Corp DE raised its stake in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 170.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,255 shares of the company's stock after purchasing an additional 30,380 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Aeva Technologies worth $229,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in shares of Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after purchasing an additional 623,889 shares during the period. American Century Companies Inc. raised its stake in Aeva Technologies by 34.9% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company's stock valued at $122,000 after buying an additional 6,640 shares during the period. Rhumbline Advisers lifted its position in shares of Aeva Technologies by 13.2% in the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company's stock valued at $255,000 after buying an additional 6,238 shares during the last quarter. Barclays PLC boosted its stake in shares of Aeva Technologies by 16.3% during the 4th quarter. Barclays PLC now owns 34,800 shares of the company's stock worth $166,000 after acquiring an additional 4,890 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Aeva Technologies during the 4th quarter worth approximately $451,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Stock Down 2.6%

Shares of NASDAQ AEVA opened at $23.06 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of -7.46 and a beta of 1.66. The company's fifty day simple moving average is $12.79 and its 200 day simple moving average is $7.30. Aeva Technologies, Inc. has a 12-month low of $2.20 and a 12-month high of $24.24.

Analyst Ratings Changes

Several research analysts have weighed in on AEVA shares. Oppenheimer increased their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Roth Capital upped their target price on Aeva Technologies from $6.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Canaccord Genuity Group lifted their price target on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley upped their price objective on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.33.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 990,411 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the acquisition, the insider now owns 11,369,715 shares in the company, valued at $49,571,957.40. This trade represents a 9.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the transaction, the chief executive officer now owns 3,514,808 shares in the company, valued at $55,182,485.60. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 4,213,506 shares of company stock valued at $24,985,345 and have sold 1,067,228 shares valued at $11,550,119. Insiders own 27.20% of the company's stock.

Aeva Technologies Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.

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