Weiss Ratings Reaffirms Sell (D-) Rating for Aeva Technologies (NASDAQ:AEVA)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Aeva Technologies amid various analysts providing mixed evaluations, with Roth Capital and Oppenheimer setting their target prices significantly higher.
• Aeva Technologies' stock has experienced a 10.1% decline recently, trading at $15.85, while its market capitalization stands at approximately $892.83 million.
• Insiders have sold substantial shares recently, including CFO Saurabh Sinha and CEO Soroush Salehian Dardashti, indicating a decrease in their ownership percentages.

Aeva Technologies (NASDAQ:AEVA - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on AEVA. Roth Capital boosted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer upped their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of Aeva Technologies from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. Finally, Morgan Stanley upped their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.33.

Aeva Technologies Trading Down 10.1%

NASDAQ AEVA traded down $1.79 during mid-day trading on Wednesday, hitting $15.85. The company's stock had a trading volume of 2,787,839 shares, compared to its average volume of 1,929,047. The company's 50 day simple moving average is $15.18 and its 200 day simple moving average is $16.56. Aeva Technologies has a twelve month low of $2.52 and a twelve month high of $38.80. The firm has a market capitalization of $892.83 million, a price-to-earnings ratio of -2.88 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The company had revenue of $5.51 million for the quarter, compared to analysts' expectations of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. As a group, research analysts forecast that Aeva Technologies will post -2.7 EPS for the current year.

Insider Buying and Selling

In other news, CFO Saurabh Sinha sold 36,658 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $13.80, for a total value of $505,880.40. Following the transaction, the chief financial officer owned 774,052 shares of the company's stock, valued at $10,681,917.60. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,134,808 shares in the company, valued at $28,713,167.60. The trade was a 8.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 646,658 shares of company stock worth $8,698,680. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC increased its holdings in shares of Aeva Technologies by 56.4% in the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock worth $113,600,000 after buying an additional 5,849,249 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Aeva Technologies by 1,630.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company's stock valued at $41,760,000 after acquiring an additional 1,041,176 shares during the last quarter. Geode Capital Management LLC grew its position in Aeva Technologies by 28.7% during the second quarter. Geode Capital Management LLC now owns 808,205 shares of the company's stock valued at $30,548,000 after acquiring an additional 180,269 shares during the last quarter. Invesco Ltd. grew its position in Aeva Technologies by 1,223.8% during the second quarter. Invesco Ltd. now owns 614,411 shares of the company's stock valued at $23,219,000 after acquiring an additional 567,998 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Aeva Technologies by 1,122.9% during the second quarter. JPMorgan Chase & Co. now owns 350,431 shares of the company's stock valued at $13,243,000 after acquiring an additional 321,775 shares during the last quarter. Institutional investors own 62.92% of the company's stock.

Aeva Technologies Company Profile

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.

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