Oppenheimer & Co. Inc. Decreases Stake in Aeva Technologies, Inc. (NASDAQ:AEVA)

Oppenheimer & Co. Inc. cut its stake in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 18.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,710 shares of the company's stock after selling 20,869 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.17% of Aeva Technologies worth $663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Aeva Technologies during the 4th quarter worth about $52,000. Squarepoint Ops LLC acquired a new position in Aeva Technologies during the fourth quarter worth approximately $54,000. Susquehanna Fundamental Investments LLC acquired a new position in Aeva Technologies during the fourth quarter worth approximately $63,000. Advisory Services Network LLC acquired a new position in Aeva Technologies during the fourth quarter worth approximately $78,000. Finally, SBI Securities Co. Ltd. acquired a new position in Aeva Technologies during the fourth quarter worth approximately $88,000. 62.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AEVA has been the topic of several research analyst reports. 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 research report on Thursday, May 15th. Roth Capital boosted their target price on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Morgan Stanley boosted their target price on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Oppenheimer boosted their target price on Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $14.50.

Insider Buying and Selling

In other news, Director Hrach Simonian sold 100,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $24.86, for a total value of $2,486,000.00. Following the sale, the director directly owned 3,597,039 shares in the company, valued at $89,422,389.54. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Saurabh Sinha sold 10,123 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $31.09, for a total value of $314,724.07. Following the completion of the sale, the chief financial officer owned 992,949 shares in the company, valued at $30,870,784.41. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,051 shares of company stock valued at $13,224,093 over the last three months. Insiders own 27.20% of the company's stock.

Aeva Technologies Price Performance

AEVA traded up $2.01 during trading on Friday, reaching $32.89. 2,356,378 shares of the stock were exchanged, compared to its average volume of 2,923,706. The business's 50 day moving average price is $19.19 and its two-hundred day moving average price is $9.74. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -11.62 and a beta of 1.95. Aeva Technologies, Inc. has a 1 year low of $2.20 and a 1 year high of $38.80.

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.