Aeva Technologies (NASDAQ:AEVA) Shares Down 7% - Time to Sell?

Key Points

• Aeva Technologies shares fell 7% to $14.57 in Tuesday trading, below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $28.75; targets range from $20 at Goldman Sachs to $42 at Oppenheimer.
• Company insiders sold 1.29 million shares worth approximately $30.6 million during the last quarter, while insiders retain 36.7% ownership and institutional investors hold 62.92%.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) shares traded down 7% on Tuesday . The stock traded as low as $14.56 and last traded at $14.57. Approximately 995,505 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 2,265,657 shares. The stock had previously closed at $15.66.

Analyst Upgrades and Downgrades

AEVA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Aeva Technologies from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. The Goldman Sachs Group started coverage on Aeva Technologies in a report on Monday, August 24th. They issued a "neutral" rating and a $20.00 target price on the stock. Morgan Stanley lifted their target price on Aeva Technologies from $18.50 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Oppenheimer restated an "outperform" rating and issued a $42.00 price target on shares of Aeva Technologies in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded Aeva Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.75.

Aeva Technologies Price Performance

The firm has a market cap of $931.73 million, a PE ratio of -5.41 and a beta of 2.47. The firm's fifty day simple moving average is $20.04 and its two-hundred day simple moving average is $18.37. The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $5,536,824.93. Following the completion of the sale, the chief executive officer owned 1,659,957 shares in the company, valued at approximately $40,785,143.49. This represents a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mina Rezk sold 350,000 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $8,599,500.00. Following the sale, the chief technology officer directly owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. This represents a 17.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,292,344 shares of company stock worth $30,568,186. 36.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its holdings in Aeva Technologies by 122.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company's stock valued at $30,000 after buying an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Aeva Technologies in the fourth quarter worth $33,000. Jones Financial Companies Lllp lifted its holdings in shares of Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company's stock worth $38,000 after buying an additional 5,469 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeva Technologies during the fourth quarter worth $47,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Aeva Technologies by 79.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company's stock worth $58,000 after acquiring an additional 1,922 shares during the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source