Informed Momentum Co LLC Invests $781,000 in Aeva Technologies, Inc. (NASDAQ:AEVA)

Key Points

• Informed Momentum Co LLC acquired approximately 111,598 shares of Aeva Technologies, valued at $781,000, during the first quarter, representing a 0.20% stake in the company.
• Several hedge funds significantly increased their holdings in Aeva Technologies in the last quarter, including Parkwood LLC, which raised its stake by 415.7%.
• Analysts have set a consensus target price of $18.33 for Aeva Technologies, with ratings ranging from "hold" to "buy" from various research firms.

Informed Momentum Co LLC bought a new position in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 111,598 shares of the company's stock, valued at approximately $781,000. Informed Momentum Co LLC owned about 0.20% of Aeva Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC lifted its stake in Aeva Technologies by 16.3% in the fourth quarter. Barclays PLC now owns 34,800 shares of the company's stock valued at $166,000 after purchasing an additional 4,890 shares during the last quarter. American Century Companies Inc. lifted 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 purchasing an additional 6,640 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Aeva Technologies by 13.2% in the first quarter. Bank of New York Mellon Corp now owns 71,786 shares of the company's stock valued at $503,000 after purchasing an additional 8,368 shares during the last quarter. Geode Capital Management LLC lifted its stake in Aeva Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company's stock valued at $2,951,000 after purchasing an additional 9,318 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Aeva Technologies by 5.0% in the fourth quarter. Northern Trust Corp now owns 208,287 shares of the company's stock valued at $989,000 after purchasing an additional 9,984 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company's stock.

Aeva Technologies Stock Down 1.4%

NASDAQ:AEVA traded down $0.18 during midday trading on Friday, hitting $13.10. The company had a trading volume of 1,982,986 shares, compared to its average volume of 2,779,459. Aeva Technologies, Inc. has a 52-week low of $2.36 and a 52-week high of $38.80. The stock's fifty day moving average price is $24.30 and its 200-day moving average price is $13.55. The company has a market capitalization of $737.90 million, a PE ratio of -2.38 and a beta of 1.94.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. The business had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. As a group, research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Roth Capital upped their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer boosted their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Morgan Stanley boosted their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group boosted their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.33.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the completion of the sale, the chief technology officer directly owned 3,236,669 shares in the company, valued at $43,630,298.12. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Saurabh Sinha sold 22,239 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $30.53, for a total transaction of $678,956.67. Following the sale, the chief financial officer owned 970,710 shares of the company's stock, valued at approximately $29,635,776.30. The trade was a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,222,164 shares of company stock valued at $21,658,535. Corporate 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.