Aeva Technologies, Inc. (NASDAQ:AEVA) Receives $26.50 Average Price Target from Brokerages

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have been given an average rating of “Hold” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $26.50.

Several brokerages have commented on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Aeva Technologies Trading Down 3.6%

Shares of AEVA stock opened at $24.40 on Friday. Aeva Technologies has a 12 month low of $8.83 and a 12 month high of $38.80. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The business’s 50 day moving average is $17.82 and its two-hundred day moving average is $15.49. The company has a market cap of $1.54 billion, a PE ratio of -4.89 and a beta of 2.41.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 41,083 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $617,888.32. Following the transaction, the chief executive officer owned 1,725,329 shares in the company, valued at $25,948,948.16. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the transaction, the chief technology officer owned 1,442,371 shares in the company, valued at approximately $21,693,259.84. This trade represents a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 74,115 shares of company stock worth $1,114,690 over the last 90 days. Insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Duquesne Family Office LLC acquired a new stake in shares of Aeva Technologies in the third quarter worth $26,670,000. Millennium Management LLC acquired a new stake in shares of Aeva Technologies in the third quarter worth $25,751,000. Delta Global Management LP grew its stake in shares of Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock worth $21,555,000 after acquiring an additional 372,159 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Aeva Technologies by 12.5% in the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after acquiring an additional 175,482 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after acquiring an additional 885,774 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.