First Trust Advisors LP Cuts Position in Aeva Technologies, Inc. $AEVA

Key Points

• First Trust Advisors reduced its Aeva Technologies position by 25.9% in the first quarter, selling 86,840 shares and retaining 247,928 shares worth approximately $3.26 million. Institutional investors collectively own 62.92% of AEVA.
• Analyst views remain mixed: Canaccord Genuity raised its target to $26 with a Buy rating, while other analysts issued Hold or Sell ratings. MarketBeat reports a consensus rating of Hold and a $34 average price target.
• Aeva beat quarterly loss estimates with a $0.41 per-share loss and reported $6.26 million in revenue, but remains unprofitable. CEO and CTO collectively sold 575,349 shares on June 16, while the company’s stock continues to show significant volatility.

First Trust Advisors LP lowered its holdings in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 25.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,928 shares of the company's stock after selling 86,840 shares during the quarter. First Trust Advisors LP owned 0.39% of Aeva Technologies worth $3,263,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AEVA. Titan Global Capital Management USA LLC grew its stake in shares of Aeva Technologies by 95.1% during the 1st quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company's stock worth $2,102,000 after purchasing an additional 77,856 shares during the period. Bank of New York Mellon Corp boosted its holdings in Aeva Technologies by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 96,156 shares of the company's stock worth $1,265,000 after buying an additional 1,743 shares in the last quarter. KPP Advisory Services LLC purchased a new stake in Aeva Technologies during the first quarter worth about $160,000. Inspire Investing LLC grew its position in Aeva Technologies by 10.2% during the first quarter. Inspire Investing LLC now owns 38,911 shares of the company's stock worth $512,000 after buying an additional 3,611 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in Aeva Technologies by 19.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company's stock worth $95,000 after buying an additional 1,159 shares during the period. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of Aeva Technologies in a research note on Thursday. Finally, Wall Street Zen cut Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Aeva Technologies has a consensus rating of "Hold" and a consensus price target of $34.00.

Aeva Technologies Stock Performance

NASDAQ:AEVA opened at $25.26 on Friday. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The firm has a 50-day moving average price of $21.60 and a two-hundred day moving average price of $17.71. Aeva Technologies, Inc. has a twelve month low of $8.83 and a twelve month high of $31.30. The company has a market capitalization of $1.59 billion, a P/E ratio of -9.25 and a beta of 2.47.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.12. The company had revenue of $6.26 million for the quarter. Aeva Technologies had a negative net margin of 150.12% and a negative return on equity of 1,166.04%. As a group, research analysts expect that Aeva Technologies, Inc. will post -2.26 earnings per share for the current fiscal year.

Aeva Technologies News Roundup

Here are the key news stories impacting Aeva Technologies this week:

• Positive Sentiment: Q2 earnings beat expectations: Aeva reported a loss of $0.41 per share, better than consensus estimates ranging from $0.44 to $0.57. Revenue reached approximately $6.26 million, while service revenue nearly tripled, helping the company generate positive gross profit despite continued operating expenses. AEVA Q2 Earnings Beat on Service Growth and Gross Profit
• Positive Sentiment: New AI data-center business: Aeva launched an Optical Connectivity division based on its high-power optical-source and silicon-photonics technology. The company signed a joint development agreement with a major customer for a near-packaged-optics solution intended for a hyperscaler, creating a potential growth avenue beyond automotive lidar. Aeva Launches Optical Connectivity Business
• Positive Sentiment: Longer-term volume opportunity: Management outlined an optical-connectivity ramp beginning in 2027 and is targeting annual shipments in the multiple millions of units. The forecast strengthens the company’s growth narrative, although commercial execution remains ahead of the current results. Aeva outlines optical connectivity ramp
• Positive Sentiment: Analyst support: Canaccord Genuity raised its price target from $24 to $26 and maintained a Buy rating, signaling increased confidence following the earnings report.
• Neutral Sentiment: Volatility remains elevated: A temporary LULD trading halt and exceptionally heavy volume indicate significant short-term speculation and heightened price volatility.
• Negative Sentiment: Profitability is not established: Aeva remains loss-making, with substantial operating expenses and analyst estimates calling for a full-year loss. The new optical-connectivity business also carries execution, customer-concentration and commercialization risks.

Insider Buying and Selling

In related news, CEO Soroush Salehian Dardashti sold 225,349 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $5,536,824.93. Following the sale, the chief executive officer owned 1,659,957 shares of the company's stock, valued at approximately $40,785,143.49. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mina Rezk sold 350,000 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $8,599,500.00. Following the transaction, the chief technology officer directly owned 1,706,669 shares of the company's stock, valued at $41,932,857.33. The trade was a 17.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 817,245 shares of company stock worth $19,342,658 in the last ninety days. Insiders own 36.70% of the company's stock.

Aeva Technologies Company Profile

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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