Aeva Technologies (NYSE:AEVA) Price Target Raised to $11.00

Aeva Technologies (NYSE:AEVA) had its target price boosted by Morgan Stanley from $5.22 to $11.00 in a research note published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

AEVA has been the subject of a number of other research reports. Oppenheimer lifted their price objective on Aeva Technologies from $6.00 to $9.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Canaccord Genuity Group started coverage on Aeva Technologies in a research note on Tuesday, April 1st. They issued a “buy” rating and a $9.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Aeva Technologies has an average rating of “Moderate Buy” and an average price target of $8.30.

Aeva Technologies Trading Up 6.7%

Aeva Technologies stock opened at $14.45 on Monday. The stock has a market cap of $794.89 million, a PE ratio of -4.68 and a beta of 1.07. The stock has a 50-day moving average price of $6.75 and a 200 day moving average price of $5.08. Aeva Technologies has a 52 week low of $2.20 and a 52 week high of $14.47.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc acquired 1,068,297 shares of Aeva Technologies stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of $6.77 per share, with a total value of $7,232,370.69. Following the purchase, the insider now directly owns 16,228,553 shares of the company’s stock, valued at approximately $109,867,303.81. This trade represents a 7.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Mina Rezk sold 70,000 shares of Aeva Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.79, for a total value of $195,300.00. Following the completion of the transaction, the chief technology officer now directly owns 8,696,669 shares in the company, valued at $24,263,706.51. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 4,213,506 shares of company stock valued at $24,985,345 and have sold 652,079 shares valued at $3,947,397. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AEVA. Barclays PLC lifted its stake in shares of Aeva Technologies by 276.4% in the 3rd quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after purchasing an additional 21,964 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at about $48,000. Rhumbline Advisers lifted its stake in shares of Aeva Technologies by 13.2% in the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after purchasing an additional 6,238 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Aeva Technologies in the 4th quarter valued at about $88,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Aeva Technologies by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after purchasing an additional 30,924 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

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.