Insider Selling: Aeva Technologies (NASDAQ:AEVA) CTO Sells $1,371,612.36 in Stock

Aeva Technologies, Inc. (NASDAQ:AEVA) CTO Mina Rezk sold 64,821 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $1,371,612.36. Following the completion of the sale, the chief technology officer owned 1,537,527 shares in the company, valued at approximately $32,534,071.32. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 16th, Mina Rezk sold 350,000 shares of Aeva Technologies stock. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00.
• On Tuesday, May 5th, Mina Rezk sold 27,389 shares of Aeva Technologies stock. The shares were sold at an average price of $15.04, for a total transaction of $411,930.56.

Aeva Technologies Stock Performance

Shares of AEVA opened at $20.99 on Monday. The firm’s 50 day moving average is $22.65 and its 200-day moving average is $17.49. The stock has a market capitalization of $1.32 billion, a P/E ratio of -4.21 and a beta of 2.40. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. Aeva Technologies, Inc. has a 12-month low of $8.83 and a 12-month high of $33.24.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million during the quarter. Equities research analysts anticipate that Aeva Technologies, Inc. will post -2.25 EPS for the current fiscal year.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently bought and sold shares of AEVA. Flight Deck Capital LP purchased a new position in shares of Aeva Technologies in the third quarter worth approximately $7,084,000. Delta Global Management LP purchased a new stake in shares of Aeva Technologies in the 3rd quarter valued at approximately $18,139,000. Melqart Asset Management UK Ltd purchased a new stake in shares of Aeva Technologies in the 3rd quarter valued at approximately $5,471,000. Handelsbanken Fonder AB boosted its stake in Aeva Technologies by 158.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after purchasing an additional 885,774 shares during the period. Finally, BBR Partners LLC acquired a new position in Aeva Technologies in the 4th quarter worth approximately $531,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEVA has been the topic of several research reports. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.