Aeva Technologies (NASDAQ:AEVA) Trading 8.6% Higher – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) traded up 8.6% during mid-day trading on Friday . The stock traded as high as $28.61 and last traded at $28.07. 814,706 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 2,448,782 shares. The stock had previously closed at $25.84.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Up 9.1%

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -5.65 and a beta of 2.20. The firm’s 50 day moving average price is $16.92 and its two-hundred day moving average price is $15.05. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89.

Insider Transactions at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 41,083 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $617,888.32. Following the completion of the sale, the chief executive officer owned 1,725,329 shares in the company, valued at approximately $25,948,948.16. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 5,643 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $84,870.72. Following the sale, the chief financial officer owned 590,034 shares of the company’s stock, valued at $8,874,111.36. This trade represents a 0.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 106,194 shares of company stock worth $1,561,871. Company insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes in AEVA. Quantbot Technologies LP lifted its position in Aeva Technologies by 122.8% in the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Aeva Technologies in the fourth quarter valued at about $33,000. Jones Financial Companies Lllp increased its holdings 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 buying an additional 5,469 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Aeva Technologies in the fourth quarter valued at about $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in Aeva Technologies by 79.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after buying an additional 1,922 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

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.