Mina Rezk Sells 10,304 Shares of Aeva Technologies (NASDAQ:AEVA) Stock

Key Points

• Aeva CTO Mina Rezk sold 10,304 shares at an average price of $15.40, totaling $158,681.60. The sale was made to cover tax withholding on vested equity awards, leaving Rezk with 1,527,223 shares.
• Aeva shares fell 4.8% to $13.99, well below their 50-day moving average of $22.36. The company reported quarterly revenue of $6.26 million and an adjusted loss of $0.41 per share, beating the consensus loss estimate.
• Analysts maintain a consensus “Hold” rating with a $21.50 target price, while institutional investors own 62.92% of the company.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) CTO Mina Rezk sold 10,304 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $15.40, for a total transaction of $158,681.60. Following the completion of the sale, the chief technology officer owned 1,527,223 shares in the company, valued at $23,519,234.20. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, July 8th, Mina Rezk sold 64,821 shares of Aeva Technologies stock. The shares were sold at an average price of $21.16, for a total transaction of $1,371,612.36.
• On Tuesday, June 16th, Mina Rezk sold 350,000 shares of Aeva Technologies stock. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00.
• On Tuesday, May 5th, Mina Rezk sold 27,389 shares of Aeva Technologies stock. The stock was sold at an average price of $15.04, for a total transaction of $411,930.56.

Aeva Technologies Trading Down 4.8%

AEVA traded down $0.71 during mid-day trading on Wednesday, hitting $13.99. The stock had a trading volume of 1,225,655 shares, compared to its average volume of 1,503,341. The stock's fifty day simple moving average is $22.36 and its 200-day simple moving average is $17.71. The firm has a market capitalization of $881.93 million, a price-to-earnings ratio of -2.80 and a beta of 2.40. Aeva Technologies, Inc. has a 1-year low of $8.83 and a 1-year high of $31.30. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.12. The firm had revenue of $6.26 million during the quarter. As a group, research analysts forecast that Aeva Technologies, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AEVA has been the subject of several recent analyst reports. Wall Street Zen downgraded Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $21.50.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in Aeva Technologies by 27.7% in the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company's stock valued at $1,448,000 after acquiring an additional 23,856 shares in the last quarter. Royal Bank of Canada increased its holdings in Aeva Technologies by 51.7% during the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company's stock worth $375,000 after purchasing an additional 9,720 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Aeva Technologies by 15.4% in the 1st quarter. Quantinno Capital Management LP now owns 24,141 shares of the company's stock valued at $318,000 after purchasing an additional 3,218 shares during the period. Sona Asset Management US LLC acquired a new stake in shares of Aeva Technologies in the 1st quarter valued at about $987,000. Finally, Siren L.L.C. bought a new stake in shares of Aeva Technologies in the first quarter valued at about $1,448,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva's core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company's FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva's systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.

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