Aeva Technologies (NASDAQ:AEVA) Shares Down 8.9% After Insider Selling

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) dropped 8.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $10.94 and last traded at $10.7470. Approximately 230,033 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,119,484 shares. The stock had previously closed at $11.80.

Specifically, CTO Mina Rezk sold 50,000 shares of Aeva Technologies stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $12.08, for a total transaction of $604,000.00. Following the completion of the transaction, the chief technology officer owned 1,556,669 shares of the company’s stock, valued at $18,804,561.52. The trade was a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AEVA shares. Oppenheimer reissued an “outperform” rating and issued a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Canaccord Genuity Group raised their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. Finally, Wall Street Zen lowered shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aeva Technologies presently has a consensus rating of “Hold” and an average target price of $28.75.

Aeva Technologies Stock Down 12.9%

The company has a quick ratio of 7.63, a current ratio of 6.26 and a debt-to-equity ratio of 2.24. The company has a market cap of $718.36 million, a PE ratio of -3.78 and a beta of 2.56. The stock has a 50-day moving average of $12.78 and a 200-day moving average of $16.60.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEVA. Brooklands Fund Management Ltd bought a new position in Aeva Technologies in the 3rd quarter worth about $23,158,000. CenterBook Partners LP raised its holdings in shares of Aeva Technologies by 174.2% in the 3rd quarter. CenterBook Partners LP now owns 481,383 shares of the company’s stock valued at $6,759,000 after acquiring an additional 305,792 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of Aeva Technologies in the 1st quarter valued at about $1,448,000. Walleye Capital LLC bought a new stake in shares of Aeva Technologies during the 1st quarter valued at about $1,401,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Aeva Technologies during the 2nd quarter valued at about $2,382,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Aeva Technologies Company Profile

Aeva Technologies develops lidar sensing systems and perception software for automotive and other industrial applications. Its technology uses frequency-modulated continuous-wave (FMCW) lidar to measure distance and the speed of objects, supporting applications such as vehicle perception and automation. The company’s offerings include lidar sensors designed for automotive use, including its Atlas system, as well as sensing and perception solutions for industrial customers. Aeva’s products are intended to help machines detect and interpret objects in their surroundings.