Insider Selling: Aeva Technologies (NASDAQ:AEVA) CFO Sells 160,000 Shares of Stock

Key Points

• Aeva Technologies CFO Saurabh Sinha sold 160,000 shares of the company at $13.33 each, totaling over $2.1 million, which represents a 16.48% decrease in his ownership.
• The company's stock recently experienced a minor increase of 1.7% and has a market capitalization of approximately $750.32 million.
• Aeva reported missing earnings estimates with a loss of $0.55 per share, while its revenue exceeded expectations at $5.51 million for the quarter.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CFO Saurabh Sinha sold 160,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $13.33, for a total value of $2,132,800.00. Following the completion of the sale, the chief financial officer owned 810,710 shares of the company's stock, valued at approximately $10,806,764.30. This trade represents a 16.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Saurabh Sinha also recently made the following trade(s):

• On Monday, July 7th, Saurabh Sinha sold 22,239 shares of Aeva Technologies stock. The shares were sold at an average price of $30.53, for a total value of $678,956.67.
• On Tuesday, July 1st, Saurabh Sinha sold 10,123 shares of Aeva Technologies stock. The shares were sold at an average price of $31.09, for a total value of $314,724.07.

Aeva Technologies Trading Up 6.6%

NASDAQ AEVA traded up $0.92 during mid-day trading on Friday, reaching $14.82. 3,899,715 shares of the company's stock traded hands, compared to its average volume of 2,797,186. Aeva Technologies, Inc. has a 1-year low of $2.36 and a 1-year high of $38.80. The company has a fifty day simple moving average of $23.38 and a 200-day simple moving average of $13.88. The company has a market cap of $834.81 million, a price-to-earnings ratio of -2.69 and a beta of 1.94.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. The business had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. Equities research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AEVA. Oppenheimer raised their price objective on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. 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 research report on Thursday, May 15th. Roth Capital lifted their target price on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Institutional Trading of Aeva Technologies

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock worth $33,000 after purchasing an additional 415 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Aeva Technologies in the 2nd quarter worth approximately $36,000. AlphaQuest LLC bought a new stake in shares of Aeva Technologies in the 2nd quarter worth approximately $51,000. Nisa Investment Advisors LLC lifted its holdings in shares of Aeva Technologies by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company's stock worth $80,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Aeva Technologies in the 2nd quarter worth approximately $100,000. Institutional investors own 62.92% 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.