Aeva Technologies (NASDAQ:AEVA) Stock Crosses Below Fifty Day Moving Average on Insider Selling

Key Points

• Aeva shares fell below their 50-day moving average of $12.78, reaching $11.69 before last trading at $11.80.
• CTO Mina Rezk sold 50,000 shares for $604,000; he and CEO Soroush Dardashti also reported earlier share sales, some to cover tax withholding on vested equity awards.
• Analysts’ consensus rating is Hold, with a consensus price target of $28.75; opinions range from Buy to Sell.

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report)'s share price crossed below its 50 day moving average during trading on Thursday after an insider sold shares in the company. The stock has a 50 day moving average of $12.78 and traded as low as $11.69. Aeva Technologies shares last traded at $11.80, with a volume of 1,113,875 shares trading hands.

Specifically, CTO Mina Rezk sold 50,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $12.08, for a total transaction of $604,000.00. Following the completion of the sale, the chief technology officer directly owned 1,556,669 shares of the company's stock, valued at $18,804,561.52. This trade represents a 3.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mina Rezk sold 28,173 shares of Aeva Technologies stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $8.82, for a total transaction of $248,485.86. Following the sale, the chief technology officer owned 1,499,060 shares in the company, valued at approximately $13,221,709.20. The trade was a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In related news, CEO Soroush Dardashti sold 42,262 shares of the company's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $8.82, for a total transaction of $372,750.84. Following the completion of the transaction, the chief executive officer owned 1,487,471 shares in the company, valued at approximately $13,119,494.22. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analyst Weigh In

AEVA has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Weiss Ratings upgraded Aeva Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $42.00 target price on shares of Aeva Technologies in a report on Thursday, August 6th. Wall Street Zen downgraded Aeva Technologies from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Finally, Canaccord Genuity Group increased their price target on Aeva Technologies from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.75.

Aeva Technologies Stock Performance

The business's fifty day moving average is $12.78 and its two-hundred day moving average is $16.60. The stock has a market capitalization of $824.82 million, a PE ratio of -4.29 and a beta of 2.56. The company has a quick ratio of 7.63, a current ratio of 6.26 and a debt-to-equity ratio of 2.24.

Institutional Trading of Aeva Technologies

Several hedge funds have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. increased its stake in Aeva Technologies by 27.9% during the third quarter. Resona Asset Management Co. Ltd. now owns 6,094 shares of the company's stock worth $85,000 after acquiring an additional 1,330 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Aeva Technologies by 15.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 13,067 shares of the company's stock valued at $183,000 after purchasing an additional 1,765 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Aeva Technologies by 174.2% in the 3rd quarter. CenterBook Partners LP now owns 481,383 shares of the company's stock worth $6,759,000 after purchasing an additional 305,792 shares during the period. Integrity Alliance LLC. bought a new position in shares of Aeva Technologies during the 3rd quarter valued at approximately $205,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Aeva Technologies during the 3rd quarter valued at approximately $378,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

About Aeva Technologies

Aeva Technologies develops lidar sensing systems and perception software for automotive and other industrial applications. Its technology uses frequency-modulated continuous-wave (FMCW) lidar to measure distance and the speed of objects, supporting applications such as vehicle perception and automation. The company's offerings include lidar sensors designed for automotive use, including its Atlas system, as well as sensing and perception solutions for industrial customers. Aeva's products are intended to help machines detect and interpret objects in their surroundings.

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