Insider Selling: Aeva Technologies, Inc. (NASDAQ:AEVA) CTO Sells 250,000 Shares of Stock

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 stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 3,236,669 shares of the company's stock, valued at approximately $43,630,298.12. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, July 7th, Mina Rezk sold 69,901 shares of Aeva Technologies stock. The stock was 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 stock was sold at an average price of $15.70, for a total value of $3,925,000.00.

Aeva Technologies Trading Up 3.2%

NASDAQ:AEVA traded up $0.42 during midday trading on Monday, hitting $13.60. 2,873,743 shares of the stock were exchanged, compared to its average volume of 2,776,662. The company has a market capitalization of $766.09 million, a price-to-earnings ratio of -2.47 and a beta of 1.94. Aeva Technologies, Inc. has a one year low of $2.36 and a one year high of $38.80. The business has a 50-day moving average price of $24.82 and a two-hundred day moving average price of $13.35.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) EPS for the quarter, missing the consensus estimate 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 company had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Sell-side analysts forecast that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AEVA has been the topic of several research reports. Wall Street Zen raised Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday. Canaccord Genuity Group raised their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Oppenheimer raised their price objective on Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Roth Capital raised their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Morgan Stanley raised their target price 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC grew its stake in shares of Aeva Technologies by 56.4% during the first quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after purchasing an additional 5,849,249 shares during the last quarter. Parkwood LLC raised its holdings in shares of Aeva Technologies by 415.7% during the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock worth $6,776,000 after acquiring an additional 1,150,000 shares during the period. Geode Capital Management LLC increased its stake in Aeva Technologies by 28.7% in the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company's stock valued at $30,548,000 after buying an additional 180,269 shares during the last quarter. Jane Street Group LLC increased its stake in Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after buying an additional 623,889 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Aeva Technologies during the 2nd quarter worth about $7,960,000. Institutional investors and hedge funds 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.

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