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

Aeva Technologies, Inc. (NASDAQ:AEVA) has been given an average rating of “Hold” by the five ratings firms that are covering the company, MarketBeat Ratings reports. One 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 target price among brokers that have issued a report on the stock in the last year is $26.50.

AEVA has been the subject of a number of research analyst reports. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 27,389 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $411,930.56. Following the completion of the sale, the chief technology officer owned 1,442,371 shares of the company’s stock, valued at $21,693,259.84. This represents a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $84,870.72. Following the sale, the chief financial officer directly owned 590,034 shares of the company’s stock, valued at approximately $8,874,111.36. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 106,194 shares of company stock valued at $1,561,871 in the last quarter. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Flight Deck Capital LP bought a new position in Aeva Technologies during the 3rd quarter worth $7,084,000. Delta Global Management LP bought a new position in Aeva Technologies during the 3rd quarter worth $18,139,000. Handelsbanken Fonder AB grew its stake in Aeva Technologies by 3,299.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock worth $8,115,000 after buying an additional 543,173 shares during the last quarter. Melqart Asset Management UK Ltd bought a new position in Aeva Technologies during the 3rd quarter worth $5,471,000. Finally, Essex Investment Management Co. LLC bought a new position in Aeva Technologies in the 3rd quarter worth about $610,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Price Performance

Shares of NASDAQ AEVA opened at $28.18 on Friday. Aeva Technologies has a twelve month low of $8.83 and a twelve month high of $38.80. 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 company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.65 and a beta of 2.20. The business has a 50 day simple moving average of $16.92 and a 200-day simple moving average of $15.05.

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.