Invesco Ltd. Makes New $325,000 Investment in Aeva Technologies, Inc. $AEVA

Key Points

• Invesco Ltd. has acquired 46,413 shares of Aeva Technologies, valued at approximately $325,000, representing a 0.08% ownership in the company as of the latest reporting period.
• Insider transactions were notable, with CEO Soroush Salehian Dardashti selling 200,000 shares for about $2.69 million, which reduced his ownership by 8.57%.
• Analysts have optimistic outlooks on Aeva Technologies, with several raising their price targets; Canaccord Genuity increased theirs from $9.50 to $16.00 while Oppenheimer set theirs at $33.00.

Invesco Ltd. acquired a new position in shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,413 shares of the company's stock, valued at approximately $325,000. Invesco Ltd. owned 0.08% of Aeva Technologies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its position 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 buying an additional 4,890 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 buying an additional 8,368 shares during the period. Northern Trust Corp increased 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 in the last quarter. Squarepoint Ops LLC bought a new stake in Aeva Technologies in the fourth quarter valued at approximately $54,000. Finally, Bank of America Corp DE increased its position in shares of Aeva Technologies by 170.0% during the fourth quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock worth $229,000 after acquiring an additional 30,380 shares in the last quarter. Institutional investors own 62.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AEVA shares. Roth Capital lifted their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Oppenheimer raised 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 lifted their price target 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 upped their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Stock Performance

AEVA traded down $0.60 on Wednesday, reaching $14.07. The company had a trading volume of 1,642,764 shares, compared to its average volume of 1,866,092. The business has a 50 day simple moving average of $19.77 and a 200 day simple moving average of $14.75. The company has a market cap of $792.53 million, a price-to-earnings ratio of -2.56 and a beta of 2.00. Aeva Technologies, Inc. has a 52-week low of $2.38 and a 52-week high of $38.80.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share 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 company had revenue of $5.51 million during the quarter, compared to the consensus estimate of $3.40 million. As a group, equities research analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 160,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.33, for a total transaction of $2,132,800.00. Following the completion of the transaction, the chief financial officer directly owned 810,710 shares in the company, valued at approximately $10,806,764.30. The trade was a 16.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total value of $2,690,000.00. Following the transaction, the chief executive officer owned 2,134,808 shares of the company's stock, valued at $28,713,167.60. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 918,822 shares of company stock valued at $16,447,215. Insiders own 27.20% of the company's stock.

About Aeva Technologies

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.