Insider Selling: Aeva Technologies, Inc. (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 company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.33, for a total transaction of $2,132,800.00. Following the transaction, the chief financial officer owned 810,710 shares in the company, valued at $10,806,764.30. The trade was a 16.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

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

Aeva Technologies Stock Up 1.7%

NASDAQ AEVA traded up $0.22 during trading hours on Monday, hitting $13.32. The company's stock had a trading volume of 2,603,834 shares, compared to its average volume of 1,784,495. The stock has a fifty day moving average of $24.30 and a 200 day moving average of $13.62. The firm has a market capitalization of $750.32 million, a P/E ratio of -2.42 and a beta of 1.94. Aeva Technologies, Inc. has a twelve month low of $2.36 and a twelve month high of $38.80.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AEVA shares. Oppenheimer upped their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of Aeva Technologies from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Canaccord Genuity Group increased their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Roth Capital increased their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, Morgan Stanley increased their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Aeva Technologies by 127.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company's stock worth $163,000 after purchasing an additional 2,419 shares during the period. Oxford Asset Management LLP acquired a new stake in Aeva Technologies in the second quarter worth $246,000. BBR Partners LLC acquired a new stake in Aeva Technologies in the second quarter worth $1,512,000. Ameriprise Financial Inc. acquired a new stake in Aeva Technologies in the second quarter worth $260,000. Finally, Raymond James Financial Inc. acquired a new stake in Aeva Technologies in the second quarter worth $2,512,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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