Mina Rezk Sells 350,000 Shares of Aeva Technologies (NASDAQ:AEVA) Stock

Aeva Technologies, Inc. (NASDAQ:AEVA) CTO Mina Rezk sold 350,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the completion of the transaction, the chief technology officer owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. The trade was a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mina Rezk also recently made the following trade(s):

• On Tuesday, May 5th, Mina Rezk sold 27,389 shares of Aeva Technologies stock. The stock was sold at an average price of $15.04, for a total transaction of $411,930.56.

Aeva Technologies Trading Up 3.8%

Shares of AEVA stock opened at $24.39 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The firm has a market cap of $1.54 billion, a P/E ratio of -4.89 and a beta of 2.41. The company has a 50 day moving average of $19.95 and a 200-day moving average of $16.45. Aeva Technologies, Inc. has a 12-month low of $8.83 and a 12-month high of $38.80.

Hedge Funds Weigh In On Aeva Technologies

A number of large investors have recently modified their holdings of AEVA. Bank of America Corp DE grew its stake in Aeva Technologies by 27.7% during the first quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after acquiring an additional 23,856 shares in the last quarter. Royal Bank of Canada increased its holdings in Aeva Technologies by 51.7% during the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock worth $375,000 after acquiring an additional 9,720 shares during the period. Quantinno Capital Management LP lifted its stake in Aeva Technologies by 15.4% in the 1st 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 in the last quarter. Sona Asset Management US LLC purchased a new stake in Aeva Technologies in the 1st quarter worth approximately $987,000. Finally, Siren L.L.C. bought a new position in Aeva Technologies in the 1st quarter valued at $1,448,000. 62.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AEVA shares. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.33.

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.