Aeva Technologies (NASDAQ:AEVA) Shares Down 7.8% – What’s Next?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) traded down 7.8% during trading on Friday . The stock traded as low as $14.79 and last traded at $14.85. 323,089 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,343,131 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

Several research firms have issued reports on AEVA. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Aeva Technologies currently has an average rating of “Hold” and a consensus price target of $21.50.

Aeva Technologies Price Performance

The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The firm’s 50-day moving average price is $22.66 and its two-hundred day moving average price is $17.73. The stock has a market cap of $936.14 million, a PE ratio of -2.98 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. On average, equities analysts expect that Aeva Technologies, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Transactions at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of Aeva Technologies stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $5,536,824.93. Following the transaction, the chief executive officer owned 1,659,957 shares in the company, valued at $40,785,143.49. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mina Rezk sold 350,000 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the completion of the sale, the chief technology officer owned 1,706,669 shares of the company’s stock, valued at $41,932,857.33. This trade represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 863,922 shares of company stock valued at $20,034,803. Corporate 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 added to or reduced their stakes in AEVA. Bank of America Corp DE grew its stake in Aeva Technologies by 27.7% during the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after purchasing an additional 23,856 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Aeva Technologies by 51.7% in 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 during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Aeva Technologies by 15.4% during the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock worth $318,000 after purchasing an additional 3,218 shares during the period. Sona Asset Management US LLC acquired a new stake in shares of Aeva Technologies during the first quarter worth about $987,000. Finally, Siren L.L.C. acquired a new position in Aeva Technologies in the 1st quarter worth approximately $1,448,000. Hedge funds and other institutional investors 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.