Aeva Technologies (NASDAQ:AEVA) CTO Sells $604,000.00 in Stock

Key Points

• CTO Mina Rezk sold 50,000 Aeva shares for $604,000 at an average price of $12.08, reducing his holdings by 3.11% to 1,556,669 shares. He had also sold 28,173 shares on November 5.
• Aeva shares traded at $11.80 in the article, down $1.04 on the day; they were below their 50-day and 200-day moving averages.
• Analysts’ average rating was Hold, with an average price target of $28.75; recommendations included two Buys, two Holds and one Sell.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CTO Mina Rezk sold 50,000 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $12.08, for a total value of $604,000.00. Following the completion of the transaction, the chief technology officer owned 1,556,669 shares in the company, valued at $18,804,561.52. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mina Rezk also recently made the following trade(s):

• On Thursday, November 5th, Mina Rezk sold 28,173 shares of Aeva Technologies stock. The stock was sold at an average price of $8.82, for a total value of $248,485.86.

Aeva Technologies Price Performance

Shares of AEVA stock traded down $1.04 during trading on Thursday, hitting $11.80. The company had a trading volume of 1,112,895 shares, compared to its average volume of 2,129,053. The stock's 50-day moving average is $12.85 and its two-hundred day moving average is $16.61. The stock has a market capitalization of $824.77 million, a price-to-earnings ratio of -4.29 and a beta of 2.56. The company has a quick ratio of 7.63, a current ratio of 6.26 and a debt-to-equity ratio of 2.24. Aeva Technologies, Inc. has a 52 week low of $8.26 and a 52 week high of $31.30.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. grew its holdings in shares of Aeva Technologies by 27.9% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 6,094 shares of the company's stock valued at $85,000 after purchasing an additional 1,330 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Aeva Technologies by 15.6% in the third quarter. Russell Investments Group Ltd. now owns 13,067 shares of the company's stock worth $183,000 after purchasing an additional 1,765 shares during the last quarter. Integrity Alliance LLC. bought a new stake in Aeva Technologies in the third quarter worth $205,000. Next Capital Management LLC purchased a new stake in Aeva Technologies during the second quarter valued at about $211,000. Finally, Quantinno Capital Management LP boosted its position in Aeva Technologies by 15.4% during the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company's stock valued at $318,000 after buying an additional 3,218 shares during the period. 62.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 4th. Canaccord Genuity Group raised their price target on Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Morgan Stanley lifted their price target on Aeva Technologies from $18.50 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. The Goldman Sachs Group initiated coverage on Aeva Technologies in a report on Monday, August 24th. They issued a "neutral" rating and a $20.00 price objective for the company. Finally, Wall Street Zen cut Aeva Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.75.

About Aeva Technologies

Aeva Technologies develops lidar sensing systems and perception software for automotive and other industrial applications. Its technology uses frequency-modulated continuous-wave (FMCW) lidar to measure distance and the speed of objects, supporting applications such as vehicle perception and automation. The company's offerings include lidar sensors designed for automotive use, including its Atlas system, as well as sensing and perception solutions for industrial customers. Aeva's products are intended to help machines detect and interpret objects in their surroundings.

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