Aeva Technologies (NYSE:AEVA) Stock Price Expected to Rise, Oppenheimer Analyst Says

Aeva Technologies (NYSE:AEVA) had its target price boosted by equities researchers at Oppenheimer from $9.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential downside of 2.39% from the company’s previous close.

Several other research firms have also issued reports on AEVA. Roth Capital increased their target price on shares of Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group increased their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.33.

Aeva Technologies Stock Up 8.3%

AEVA stock opened at $18.44 on Thursday. The company’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $5.26. Aeva Technologies has a 52-week low of $2.20 and a 52-week high of $18.74. The firm has a market cap of $1.01 billion, a P/E ratio of -5.97 and a beta of 1.07.

Insider Buying and Selling

In other Aeva Technologies news, CTO Mina Rezk sold 86,889 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $7.55, for a total value of $656,011.95. Following the completion of the sale, the chief technology officer now owns 8,296,669 shares in the company, valued at approximately $62,639,850.95. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Paul Zadesky sold 14,851 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the completion of the sale, the director now owns 83,764 shares of the company’s stock, valued at approximately $293,174. The trade was a 15.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 4,213,506 shares of company stock worth $24,985,345 and sold 652,079 shares worth $3,947,397. Insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after acquiring an additional 630 shares during the last quarter. AQR Capital Management LLC raised its holdings in Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after acquiring an additional 4,707 shares during the last quarter. Barclays PLC grew its stake in shares of Aeva Technologies by 16.3% in the 4th quarter. Barclays PLC now owns 34,800 shares of the company’s stock valued at $166,000 after buying an additional 4,890 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after buying an additional 5,469 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Aeva Technologies by 13.2% in the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after buying an additional 6,238 shares during the period. Institutional investors and hedge funds own 62.92% of the company’s stock.

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.