Aeva Technologies, Inc. (NASDAQ:AEVA) CTO Mina Rezk Sells 250,000 Shares

Key Points

• Aeva Technologies CTO Mina Rezk sold 250,000 shares at an average price of $13.48, totaling approximately $3.37 million, reducing their ownership stake by 7.17%.
• The company's stock price increased by 3.2% during midday trading, reaching $13.60, with a market capitalization of $766.09 million.
• Aeva Technologies recently reported a ($0.55) EPS for the quarter, missing expectations but achieving a revenue of $5.51 million, surpassing analyst forecasts.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CTO Mina Rezk sold 250,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $13.48, for a total value of $3,370,000.00. Following the sale, the chief technology officer owned 3,236,669 shares in the company, valued at approximately $43,630,298.12. This trade represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 7th, Mina Rezk sold 69,901 shares of Aeva Technologies stock. The shares were sold at an average price of $30.54, for a total value of $2,134,776.54.
• On Monday, May 19th, Mina Rezk sold 250,000 shares of Aeva Technologies stock. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00.

Aeva Technologies Stock Performance

Aeva Technologies stock traded up $0.04 during mid-day trading on Friday, reaching $13.32. 347,798 shares of the company were exchanged, compared to its average volume of 1,768,226. Aeva Technologies, Inc. has a twelve month low of $2.36 and a twelve month high of $38.80. The firm's 50-day simple moving average is $24.45 and its two-hundred day simple moving average is $13.42. The firm has a market cap of $750.32 million, a PE ratio of -2.42 and a beta of 1.94.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted 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 return on equity of 287.71% and a negative net margin of 2,178.31%. The company had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. As a group, equities research analysts anticipate that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes 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 valued at $33,000 after buying an additional 415 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Aeva Technologies in the 2nd quarter valued at approximately $36,000. AlphaQuest LLC acquired a new stake in shares of Aeva Technologies in the 2nd quarter valued at 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 valued at $80,000 after buying an additional 1,657 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Aeva Technologies in the 2nd quarter valued at approximately $100,000. 62.92% of the stock is owned by institutional investors and hedge funds.

About Aeva Technologies

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.