Aeva Technologies (NYSE:AEVA) Upgraded at Zacks Investment Research

Aeva Technologies (NYSE:AEVAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Aeva Technologs is building the next-generation of sensing and perception for autonomous vehicles and beyond. Aeva Inc., formerly known as InterPrivate Acquisition Corp., is based in MOUNTAIN VIEW, Calif. “

AEVA has been the subject of a number of other reports. Morgan Stanley decreased their price target on shares of Aeva Technologies from $11.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, February 24th. Credit Suisse Group started coverage on shares of Aeva Technologies in a report on Thursday, April 14th. They issued an “outperform” rating and a $6.00 price objective on the stock. Craig Hallum cut their price objective on shares of Aeva Technologies from $15.00 to $10.00 in a report on Monday, January 24th. Finally, Piper Sandler cut their price objective on shares of Aeva Technologies from $10.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $9.00.

Shares of NYSE AEVA traded up $0.02 during trading on Tuesday, hitting $2.87. 56,707 shares of the company traded hands, compared to its average volume of 1,286,692. Aeva Technologies has a 1 year low of $2.84 and a 1 year high of $12.47. The company has a 50-day moving average price of $3.87 and a 200-day moving average price of $6.00. The firm has a market capitalization of $621.87 million, a P/E ratio of -5.31 and a beta of 0.88.

Aeva Technologies (NYSE:AEVAGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). Aeva Technologies had a negative net margin of 1,145.01% and a negative return on equity of 22.76%. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. On average, research analysts predict that Aeva Technologies will post -0.7 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in Aeva Technologies by 46.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 96,593 shares of the company’s stock worth $730,000 after acquiring an additional 30,617 shares during the period. SG Americas Securities LLC bought a new position in Aeva Technologies in the 3rd quarter worth about $394,000. Two Sigma Advisers LP bought a new position in shares of Aeva Technologies in the third quarter valued at approximately $462,000. Twinbeech Capital LP bought a new position in shares of Aeva Technologies in the third quarter valued at approximately $81,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Aeva Technologies in the third quarter valued at approximately $607,000. Institutional investors and hedge funds own 48.16% of the company’s stock.

Aeva Technologies Company Profile (Get Rating)

Aeva Technologies, Inc, through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications. from automated driving to consumer electronics, consumer health, industrial automation, and security application.

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