Aeva Technologies (NASDAQ:AEVA) Trading Down 7.3% – What’s Next?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) were down 7.3% on Monday . The company traded as low as $16.81 and last traded at $16.95. Approximately 544,532 shares were traded during trading, a decline of 76% from the average session volume of 2,289,697 shares. The stock had previously closed at $18.29.

Analyst Ratings Changes

AEVA has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Aeva Technologies in a report on Monday. They set a “neutral” rating and a $20.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.75.

Aeva Technologies Stock Performance

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -5.92 and a beta of 2.47. The company has a fifty day moving average of $20.72 and a two-hundred day moving average of $18.28. The company has a debt-to-equity ratio of 3.52, a quick ratio of 7.63 and a current ratio of 7.85.

Insiders Place Their Bets

In related news, CFO Saurabh Sinha sold 70,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $21.21, for a total value of $1,484,700.00. Following the transaction, the chief financial officer directly owned 581,372 shares in the company, valued at approximately $12,330,900.12. This represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer directly owned 1,659,957 shares in the company, valued at approximately $40,785,143.49. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,292,344 shares of company stock worth $30,568,186 in the last 90 days. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AEVA. Quantbot Technologies LP acquired a new stake in shares of Aeva Technologies in the second quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies during the fourth quarter worth approximately $33,000. Daiwa Securities Group Inc. bought a new position in Aeva Technologies during the 2nd quarter worth $100,000. Caitong International Asset Management Co. Ltd bought a new position in Aeva Technologies during the 4th quarter worth $47,000. Finally, Tower Research Capital LLC TRC increased its stake in Aeva Technologies by 127.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock worth $163,000 after acquiring an additional 2,419 shares during the period. 62.92% of the stock is owned by institutional investors.

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.