Aeva Technologies (NYSE:AEVA) Sees Large Volume Increase – Still a Buy?

Shares of Aeva Technologies, Inc. (NYSE:AEVA) saw strong trading volume on Monday . 1,710,952 shares changed hands during trading, an increase of 180% from the previous session’s volume of 610,942 shares.The stock last traded at $16.18 and had previously closed at $18.44.

Analyst Ratings Changes

AEVA has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price target on Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Roth Capital lifted their price target on Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Oppenheimer upped their target price on Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.33.

Aeva Technologies Trading Down 16.0%

The company has a 50 day moving average price of $7.36 and a 200-day moving average price of $5.28. The company has a market cap of $851.72 million, a P/E ratio of -5.01 and a beta of 1.07.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 70,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $2.79, for a total value of $195,300.00. Following the completion of the sale, the chief technology officer now directly owns 8,696,669 shares in the company, valued at $24,263,706.51. This trade represents a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen Paul Zadesky sold 14,851 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.50, for a total value of $51,978.50. Following the completion of the sale, the director now owns 83,764 shares of the company’s stock, valued at approximately $293,174. This represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 4,213,506 shares of company stock worth $24,985,345 and sold 652,079 shares worth $3,947,397. Company insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Several large investors have recently added to or reduced their stakes in AEVA. Jones Financial Companies Lllp lifted its position in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after buying an additional 5,469 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Aeva Technologies during the 4th quarter worth $48,000. Intech Investment Management LLC bought a new stake in Aeva Technologies in the fourth quarter worth $52,000. Squarepoint Ops LLC bought a new position in shares of Aeva Technologies during the fourth quarter valued at about $54,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Aeva Technologies in the 4th quarter worth approximately $63,000. 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.