Aeva Technologies, Inc. (NYSE:AEVA) Sees Significant Increase in Short Interest

Aeva Technologies, Inc. (NYSE:AEVA) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,720,000 shares, an increase of 10.3% from the March 15th total of 1,560,000 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 339,400 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEVA. Morgan Stanley increased their price target on shares of Aeva Technologies to $5.10 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. Oppenheimer reissued an “outperform” rating and issued a $25.00 price target on shares of Aeva Technologies in a report on Wednesday, March 6th. Finally, Roth Mkm raised their price objective on shares of Aeva Technologies from $5.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.90.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 75,791 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $4.65, for a total value of $352,428.15. Following the completion of the sale, the chief executive officer now directly owns 4,689,017 shares of the company’s stock, valued at approximately $21,803,929.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 176,729 shares of company stock valued at $756,557. Company insiders own 34.60% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Aeva Technologies during the 1st quarter valued at about $35,000. Commonwealth Equity Services LLC bought a new position in Aeva Technologies during the 3rd quarter valued at about $36,000. Quadrature Capital Ltd bought a new position in shares of Aeva Technologies in the third quarter worth about $42,000. ExodusPoint Capital Management LP bought a new position in shares of Aeva Technologies in the fourth quarter worth about $31,000. Finally, Barclays PLC raised its stake in shares of Aeva Technologies by 533.3% in the fourth quarter. Barclays PLC now owns 26,015 shares of the company’s stock worth $35,000 after acquiring an additional 21,907 shares during the last quarter. 62.92% of the stock is owned by institutional investors.

Aeva Technologies Stock Down 7.3 %

NYSE:AEVA opened at $3.19 on Wednesday. The company has a 50-day moving average of $4.66 and a 200-day moving average of $4.01. Aeva Technologies has a 52 week low of $2.33 and a 52 week high of $7.60.

Aeva Technologies (NYSE:AEVA) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. The company had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.59 million. Aeva Technologies had a negative net margin of 3,463.20% and a negative return on equity of 52.88%. Equities research analysts predict that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, manufacturing, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in the United States, Thailand, Europe, the Middle East, and Asia. The company develops its products using frequency modulated continuous wave sensing technology.