Sona Asset Management US LLC Purchases New Stake in Aeva Technologies, Inc. $AEVA

Key Points

• Sona Asset Management US LLC purchased 75,000 Aeva Technologies shares worth approximately $987,000, joining other institutional investors that hold 62.92% of AEVA’s outstanding stock.
• Aeva insiders sold 863,922 shares valued at roughly $20.0 million over the past three months, including a 350,000-share sale by CTO Mina Rezk.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $21.50 price target. AEVA recently traded at $14.85, while its latest quarterly loss of $0.41 per share was better than expectations.

Sona Asset Management US LLC bought a new stake in shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 75,000 shares of the company's stock, valued at approximately $987,000. Sona Asset Management US LLC owned approximately 0.12% of Aeva Technologies at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AEVA. Duquesne Family Office LLC purchased a new stake in shares of Aeva Technologies during the 3rd quarter worth about $26,670,000. Millennium Management LLC acquired a new position in Aeva Technologies in the third quarter worth approximately $25,751,000. Delta Global Management LP raised its position in Aeva Technologies by 29.7% during the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company's stock valued at $21,555,000 after acquiring an additional 372,159 shares in the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 175,482 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company's stock worth $19,202,000 after acquiring an additional 885,774 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Aeva Technologies

In related news, CFO Saurabh Sinha sold 20,620 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $436,319.20. Following the transaction, the chief financial officer owned 658,202 shares of the company's stock, valued at approximately $13,927,554.32. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 350,000 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the transaction, the chief technology officer owned 1,706,669 shares of the company's stock, valued at approximately $41,932,857.33. The trade was a 17.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 863,922 shares of company stock worth $20,034,803 over the last three months. 36.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AEVA shares. Weiss Ratings raised shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Aeva Technologies presently has a consensus rating of "Hold" and a consensus price target of $21.50.

Aeva Technologies Stock Performance

Shares of AEVA opened at $14.85 on Monday. The company has a market capitalization of $936.14 million, a PE ratio of -2.98 and a beta of 2.40. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. Aeva Technologies, Inc. has a one year low of $8.83 and a one year high of $31.30. The company's fifty day moving average price is $22.66 and its 200 day moving average price is $17.76.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. As a group, analysts expect that Aeva Technologies, Inc. will post -2.26 earnings per share for the current year.

Aeva Technologies 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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