Bank of New York Mellon Corp Takes $2.38 Million Position in Aeva Technologies, Inc. $AEVA

Key Points

• Bank of New York Mellon acquired 82,938 shares of Aeva Technologies worth approximately $2.38 million, while institutional investors collectively own 62.92% of the company.
• Aeva insiders have recently sold shares, including the CFO’s $506,000 sale and the CEO’s $742,000 sale; insiders sold 1.33 million shares worth about $31.1 million over the past 90 days.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $28.75. Price targets range from $20 at Goldman Sachs to $42 at Oppenheimer.

Bank of New York Mellon Corp acquired a new stake in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,938 shares of the company's stock, valued at approximately $2,382,000. Bank of New York Mellon Corp owned 0.13% of Aeva Technologies as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Duquesne Family Office LLC bought a new stake in Aeva Technologies in the third quarter worth about $26,670,000. Millennium Management LLC bought a new position in shares of Aeva Technologies in the third quarter valued at $25,751,000. Delta Global Management LP increased its holdings in shares of Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company's stock valued at $21,555,000 after buying an additional 372,159 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Aeva Technologies by 12.5% in the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company's stock valued at $22,865,000 after buying an additional 175,482 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Aeva Technologies by 158.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company's stock valued at $19,202,000 after acquiring an additional 885,774 shares during the last quarter. Institutional investors own 62.92% of the company's stock.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CFO Saurabh Sinha sold 34,146 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $14.83, for a total value of $506,385.18. Following the transaction, the chief financial officer owned 547,226 shares in the company, valued at $8,115,361.58. The trade was a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Soroush Dardashti sold 30,514 shares of the business'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 completion of the transaction, the chief executive officer owned 1,220,808 shares in the company, valued at $29,690,050.56. This trade represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,326,490 shares of company stock valued at $31,074,571. Insiders own 36.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEVA. Wall Street Zen lowered Aeva Technologies from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Morgan Stanley boosted their target price 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. The Goldman Sachs Group assumed coverage on Aeva Technologies in a research note on Monday, August 24th. They issued a "neutral" rating and a $20.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $42.00 price objective 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aeva Technologies has a consensus rating of "Hold" and a consensus price target of $28.75.

Aeva Technologies Price Performance

Shares of AEVA opened at $15.69 on Tuesday. The business's 50-day moving average is $19.37 and its 200-day moving average is $18.44. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63. The company has a market capitalization of $989.10 million, a price-to-earnings ratio of -5.75 and a beta of 2.44. Aeva Technologies, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $31.30.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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