Aeva Technologies (NASDAQ:AEVA) Stock Price Up 6.6% After Analyst Upgrade

Aeva Technologies, Inc. (NASDAQ:AEVA) rose 6.6% during mid-day trading on Wednesday after Roth Capital raised their price target on the stock from $17.00 to $30.00. Roth Capital currently has a buy rating on the stock. Aeva Technologies traded as high as $27.85 and last traded at $27.53. Approximately 761,081 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 1,285,382 shares. The stock had previously closed at $25.82.

AEVA has been the subject of a number of other reports. Canaccord Genuity Group increased their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley raised their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Oppenheimer raised their target price on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen raised shares of Aeva Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Insiders Place Their Bets

In other news, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $5.36, for a total value of $1,072,000.00. Following the completion of the sale, the chief executive officer now owns 3,764,808 shares in the company, valued at approximately $20,179,370.88. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hrach Simonian sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the completion of the sale, the director now owns 3,597,039 shares of the company’s stock, valued at $89,422,389.54. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 4,213,506 shares of company stock valued at $24,985,345 and sold 1,167,228 shares valued at $14,036,119. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC lifted its holdings in Aeva Technologies by 56.4% during the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company’s stock valued at $113,600,000 after buying an additional 5,849,249 shares in the last quarter. Parkwood LLC lifted its holdings in Aeva Technologies by 415.7% during the 4th quarter. Parkwood LLC now owns 1,426,627 shares of the company’s stock valued at $6,776,000 after buying an additional 1,150,000 shares in the last quarter. Jane Street Group LLC lifted its holdings in Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock valued at $3,082,000 after buying an additional 623,889 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Aeva Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock valued at $2,951,000 after buying an additional 9,318 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Aeva Technologies by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after buying an additional 30,924 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.

Aeva Technologies Stock Performance

The firm has a market cap of $1.52 billion, a P/E ratio of -9.76 and a beta of 1.66. The firm’s fifty day moving average price is $14.37 and its 200 day moving average price is $7.89.

About Aeva Technologies

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.