Aeva Technologies, Inc. (NASDAQ:AEVA) Stock Rated “Hold” by Sell-Side Analysts

Aeva Technologies, Inc. (NASDAQ:AEVA) has been assigned an average recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $28.75.

Several equities analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $42.00 price objective on shares of Aeva Technologies in a report on Thursday, August 6th. Wall Street Zen cut shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. The Goldman Sachs Group started coverage on shares of Aeva Technologies in a report on Monday, August 24th. They issued a “neutral” rating and a $20.00 target price for the company. Morgan Stanley boosted their target price on Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th.

Insider Transactions at Aeva Technologies

In other news, CFO Saurabh Sinha sold 70,000 shares of Aeva Technologies stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total value of $1,484,700.00. Following the completion of the sale, the chief financial officer directly owned 581,372 shares of the company’s stock, valued at approximately $12,330,900.12. The trade was a 10.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Soroush Dardashti sold 219,486 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $24.03, for a total value of $5,274,248.58. Following the completion of the sale, the chief executive officer owned 1,251,322 shares in the company, valued at $30,069,267.66. This represents a 14.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 536,683 shares of company stock worth $12,154,457 over the last ninety days. Company insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new position in Aeva Technologies in the 2nd quarter valued at about $910,000. Bank of New York Mellon Corp purchased a new stake in Aeva Technologies during the second quarter worth about $2,382,000. Next Capital Management LLC purchased a new stake in Aeva Technologies during the second quarter worth about $211,000. Bank of America Corp DE lifted its position in shares of Aeva Technologies by 27.7% during the first quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock worth $1,448,000 after purchasing an additional 23,856 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Aeva Technologies by 51.7% during the first quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock worth $375,000 after purchasing an additional 9,720 shares in the last quarter. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Aeva Technologies Price Performance

Shares of AEVA opened at $10.03 on Tuesday. Aeva Technologies has a 1-year low of $8.83 and a 1-year high of $31.30. The stock has a market cap of $632.29 million, a PE ratio of -3.67 and a beta of 2.41. The firm has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $18.36. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops perception and sensing systems based on frequency-modulated continuous-wave (FMCW) technology. Its core products are 4D LiDAR sensors and related software designed to measure an object’s location, velocity and other characteristics in real time. The company’s technology is intended to support advanced driver-assistance systems, autonomous vehicles and other applications that require high-resolution environmental perception.

Aeva offers automotive and industrial sensing solutions, including its Aeries line of automotive-grade 4D LiDAR sensors and Atlas systems for automated driving and mapping applications.