Aeva Technologies (NASDAQ:AEVA) Hits New 52-Week Low - Here's What Happened

Key Points

• Aeva Technologies shares fell 12.2%, reaching a new 52-week low of $8.77 and closing near $8.79, well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with two Buy, two Hold, and one Sell rating; MarketBeat reports an average rating of “Hold” and an average price target of $28.75.
• Company insiders have been selling shares, including recent sales by the CEO and CFO; insiders sold 509,245 shares worth about $11.7 million over the past three months.

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $8.77 and last traded at $8.79, with a volume of 1,518,537 shares traded. The stock had previously closed at $9.94.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of Aeva Technologies in a research report on Monday, August 24th. They issued a "neutral" rating and a $20.00 target price for the company. Wall Street Zen downgraded shares of Aeva Technologies from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Canaccord Genuity Group boosted their price objective on Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 4th. Finally, Oppenheimer reissued an "outperform" rating and issued a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.75.

Aeva Technologies Trading Down 12.2%

The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63. The company's 50 day moving average price is $13.93 and its two-hundred day moving average price is $17.00. The stock has a market capitalization of $550.34 million, a PE ratio of -3.20 and a beta of 2.41.

Insider Buying and Selling at Aeva Technologies

In related news, CEO Soroush Dardashti sold 219,486 shares of Aeva Technologies stock in a transaction on Monday, August 10th. The stock was sold at an average price of $24.03, for a total transaction of $5,274,248.58. Following the completion of the sale, the chief executive officer owned 1,251,322 shares of the company's stock, valued at approximately $30,069,267.66. This trade represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 70,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total transaction of $1,484,700.00. Following the completion of the transaction, the chief financial officer directly owned 581,372 shares of the company's stock, valued at approximately $12,330,900.12. This represents a 10.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 509,245 shares of company stock valued at $11,731,912 in the last three months. Corporate insiders own 36.70% of the company's stock.

Institutional Trading of Aeva Technologies

A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Aeva Technologies by 19.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company's stock valued at $95,000 after purchasing an additional 1,159 shares during the last quarter. Next Capital Management LLC purchased a new stake in Aeva Technologies during the second quarter worth about $211,000. KPP Advisory Services LLC purchased a new stake in Aeva Technologies in the 1st quarter worth about $160,000. Integrity Alliance LLC. bought a new stake in Aeva Technologies during the 3rd quarter valued at $205,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Aeva Technologies by 15.4% in the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company's stock worth $318,000 after purchasing an additional 3,218 shares during the period. Institutional investors own 62.92% of the company's stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company's core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object's location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.

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