Aeva Technologies, Inc. $AEVA Stock Holdings Lifted by Sylebra Capital LLC

Key Points

• Sylebra Capital LLC increased its stake in Aeva Technologies by 56.4%, owning approximately 16.2 million shares, making it the firm's 7th largest holding.
• Several institutional investors, including Parkwood LLC and Jane Street Group LLC, significantly boosted their positions in Aeva Technologies, with Parkwood increasing its ownership by 415.7%.
• Aeva Technologies' stock received several upgrades from analysts, with Roth Capital raising its target price from $17.00 to $30.00 and assigning a "buy" rating.

Sylebra Capital LLC boosted its holdings in Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 56.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,228,553 shares of the company's stock after purchasing an additional 5,849,249 shares during the quarter. Aeva Technologies makes up approximately 5.7% of Sylebra Capital LLC's holdings, making the stock its 7th biggest position. Sylebra Capital LLC owned 29.50% of Aeva Technologies worth $113,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEVA. Bank of America Corp DE boosted its position in shares of Aeva Technologies by 170.0% during the 4th quarter. Bank of America Corp DE now owns 48,255 shares of the company's stock valued at $229,000 after acquiring an additional 30,380 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Aeva Technologies by 510.8% during the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company's stock valued at $214,000 after acquiring an additional 37,665 shares during the last quarter. Millennium Management LLC bought a new position in shares of Aeva Technologies during the 4th quarter valued at approximately $174,000. American Century Companies Inc. boosted its position in shares of Aeva Technologies by 81.5% during the 1st quarter. American Century Companies Inc. now owns 46,623 shares of the company's stock valued at $326,000 after acquiring an additional 20,934 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new position in shares of Aeva Technologies during the 1st quarter valued at approximately $781,000. 62.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AEVA has been the topic of several recent research reports. Morgan Stanley increased their price target on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Oppenheimer increased their price target on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Roth Capital increased their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group increased their target price on Aeva Technologies from $9.50 to $16.00 and gave the stock 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Aeva Technologies Trading Down 1.4%

Shares of Aeva Technologies stock traded down $0.22 during trading on Friday, hitting $15.63. 844,401 shares of the stock traded hands, compared to its average volume of 1,870,823. Aeva Technologies, Inc. has a 52-week low of $2.52 and a 52-week high of $38.80. The stock's fifty day simple moving average is $19.09 and its 200 day simple moving average is $14.83. The firm has a market cap of $880.44 million, a P/E ratio of -2.84 and a beta of 2.00.

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

Insiders Place Their Bets

In other news, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was 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 in the company, valued at approximately $28,713,167.60. This represents a 8.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hrach Simonian sold 100,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $24.86, for a total value of $2,486,000.00. Following the completion of the transaction, the director owned 3,597,039 shares in the company, valued at approximately $89,422,389.54. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 918,822 shares of company stock valued at $16,447,215. Corporate insiders own 27.20% of the company's stock.

Aeva Technologies Company 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.