Aeva Technologies (NASDAQ:AEVA) Stock Price Up 10.6% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 10.6% on Tuesday . The stock traded as high as $17.75 and last traded at $17.59. 504,487 shares changed hands during trading, a decline of 79% from the average daily volume of 2,371,202 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.50.

Aeva Technologies Stock Up 11.3%

The business has a fifty day moving average of $22.98 and a 200 day moving average of $17.67. 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 firm has a market cap of $1.12 billion, a P/E ratio of -3.55 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.12. The company had revenue of $6.26 million for the quarter. On average, equities research analysts predict that Aeva Technologies, Inc. will post -2.26 EPS for the current year.

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 225,349 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $5,536,824.93. Following the sale, the chief executive officer owned 1,659,957 shares of the company’s stock, valued at $40,785,143.49. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Saurabh Sinha sold 20,620 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the sale, the chief financial officer owned 658,202 shares in the company, valued at $13,927,554.32. This trade represents a 3.04% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 863,922 shares of company stock worth $20,034,803. 36.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after purchasing an additional 4,707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aeva Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after purchasing an additional 630 shares in the last quarter. Jones Financial Companies Lllp grew its position in Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Aeva Technologies in the 2nd quarter valued at $446,000. Finally, Russell Investments Group Ltd. bought a new stake in Aeva Technologies during the 2nd quarter worth about $1,239,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.