Aeva Technologies, Inc. $AEVA is Sylebra Capital LLC's 7th Largest Position

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 raised its position in shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Free Report) by 56.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,228,553 shares of the company's stock after acquiring an additional 5,849,249 shares during the period. Aeva Technologies makes up approximately 5.7% of Sylebra Capital LLC's holdings, making the stock its 7th biggest holding. Sylebra Capital LLC owned approximately 29.50% of Aeva Technologies worth $113,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Parkwood LLC raised its stake in Aeva Technologies by 415.7% during the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock valued at $6,776,000 after purchasing an additional 1,150,000 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock worth $3,082,000 after buying an additional 623,889 shares during the last quarter. Informed Momentum Co LLC bought a new stake in shares of Aeva Technologies in the 1st quarter worth about $781,000. Two Sigma Investments LP raised its position in shares of Aeva Technologies by 308.6% during the 4th quarter. Two Sigma Investments LP now owns 74,288 shares of the company's stock valued at $353,000 after buying an additional 56,107 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Aeva Technologies in the 1st quarter valued at about $325,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

Aeva Technologies Price Performance

Shares of AEVA traded up $0.84 during mid-day trading on Tuesday, reaching $14.67. 1,806,686 shares of the company's stock traded hands, compared to its average volume of 2,589,171. The stock's 50-day moving average is $19.77 and its two-hundred day moving average is $14.75. Aeva Technologies, Inc. has a 12 month low of $2.38 and a 12 month high of $38.80. The stock has a market cap of $826.36 million, a P/E ratio of -2.67 and a beta of 2.00.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AEVA. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Canaccord Genuity Group lifted their target price on Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a 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 research report on Tuesday, June 17th. Oppenheimer raised their price target on Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Aeva Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Insiders Place Their Bets

In related news, Director Hrach Simonian sold 100,000 shares of the firm's 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 transaction, the director owned 3,597,039 shares of the company's stock, valued at $89,422,389.54. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 36,658 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $13.80, for a total transaction of $505,880.40. Following the completion of the sale, the chief financial officer directly owned 774,052 shares of the company's stock, valued at approximately $10,681,917.60. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 918,822 shares of company stock valued at $16,447,215 in the last three months. 27.20% of the stock is owned by company insiders.

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.