Wall Street Zen Upgrades Aeva Technologies (NASDAQ:AEVA) to Hold

Key Points

• Wall Street Zen has upgraded Aeva Technologies from a "sell" to a "hold" rating, signaling a more optimistic outlook on the stock.
• Several analysts, including Oppenheimer and Canaccord Genuity, have raised their price targets significantly, indicating strong potential for growth, with the average price target now at $18.33.
• Aeva reported a loss of ($0.55) per share in its latest earnings report, which missed expectations but showed higher revenue than anticipated, at $5.51 million.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

AEVA has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Oppenheimer boosted their target price on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Roth Capital boosted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Canaccord Genuity Group boosted their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Aeva Technologies has an average rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Price Performance

Shares of AEVA traded up $0.15 during mid-day trading on Friday, reaching $13.75. 2,653,916 shares of the company's stock were exchanged, compared to its average volume of 1,765,258. The stock has a market capitalization of $774.54 million, a PE ratio of -2.50 and a beta of 1.94. The business's fifty day simple moving average is $24.82 and its 200-day simple moving average is $13.35. Aeva Technologies has a 52-week low of $2.36 and a 52-week high of $38.80.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $5.51 million during the quarter, compared to analysts' expectations of $3.40 million. Equities research analysts predict that Aeva Technologies will post -2.7 earnings per share for the current year.

Insider Transactions at Aeva Technologies

In other news, CFO Saurabh Sinha sold 22,239 shares of Aeva Technologies stock in a transaction on Monday, July 7th. The stock was sold at an average price of $30.53, for a total transaction of $678,956.67. Following the completion of the transaction, the chief financial officer owned 970,710 shares of the company's stock, valued at $29,635,776.30. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of Aeva Technologies stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the transaction, the chief executive officer directly owned 3,514,808 shares of the company's stock, valued at $55,182,485.60. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,022,164 shares of company stock worth $18,968,535. Corporate insiders own 27.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEVA. GAMMA Investing LLC raised its stake in Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company's stock valued at $33,000 after purchasing an additional 415 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company's stock valued at $96,000 after purchasing an additional 630 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Aeva Technologies by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,731 shares of the company's stock valued at $670,000 after purchasing an additional 808 shares during the last quarter. AlphaQuest LLC acquired a new position in Aeva Technologies in the 2nd quarter valued at about $51,000. Finally, Nisa Investment Advisors LLC raised its stake in Aeva Technologies by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company's stock valued at $80,000 after purchasing an additional 1,657 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company's stock.

About Aeva Technologies

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.