Aeva Technologies, Inc. (NASDAQ:AEVA) Receives Average Recommendation of “Hold” from Analysts

Aeva Technologies, Inc. (NASDAQ:AEVA) has been assigned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $26.50.

A number of research analysts have issued reports on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Aeva Technologies in a research report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th.

Aeva Technologies Price Performance

Shares of NASDAQ AEVA opened at $15.79 on Monday. The firm has a market cap of $948.66 million, a price-to-earnings ratio of -2.97 and a beta of 2.08. The stock’s fifty day moving average price is $14.47 and its two-hundred day moving average price is $16.03. Aeva Technologies has a one year low of $2.52 and a one year high of $38.80.

Aeva Technologies (NASDAQ:AEVA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 1,031.15%.The firm had revenue of $3.58 million for the quarter. On average, equities analysts anticipate that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Mina Rezk sold 64,787 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the completion of the sale, the chief technology officer owned 1,469,760 shares of the company’s stock, valued at approximately $27,704,976. This represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the sale, the chief financial officer owned 627,756 shares in the company, valued at $12,956,883.84. This represents a 8.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,651,923 shares of company stock valued at $22,904,227 over the last quarter. 27.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Duquesne Family Office LLC acquired a new stake in shares of Aeva Technologies in the 3rd quarter valued at $26,670,000. Millennium Management LLC bought a new stake in shares of Aeva Technologies during the 3rd quarter worth $25,751,000. Delta Global Management LP acquired a new stake in Aeva Technologies in the third quarter valued at about $18,139,000. Arrowstreet Capital Limited Partnership grew its position in Aeva Technologies by 1,630.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company’s stock valued at $41,760,000 after acquiring an additional 1,041,176 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Aeva Technologies by 1,223.8% during the second quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock worth $23,219,000 after acquiring an additional 567,998 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.