Canaccord Genuity Group Raises Aeva Technologies (NYSE:AEVA) Price Target to $16.00

Aeva Technologies (NYSE:AEVA) had its target price boosted by equities researchers at Canaccord Genuity Group from $9.50 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential downside of 13.23% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley lifted their price objective on Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Oppenheimer lifted their price objective on Aeva Technologies from $6.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.33.

Aeva Technologies Stock Performance

Shares of AEVA opened at $18.44 on Thursday. The stock has a 50-day simple moving average of $7.36 and a 200-day simple moving average of $5.26. The stock has a market capitalization of $1.01 billion, a PE ratio of -5.97 and a beta of 1.07. Aeva Technologies has a 1 year low of $2.20 and a 1 year high of $18.74.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total value of $1,072,000.00. Following the completion of the sale, the chief executive officer now owns 3,764,808 shares in the company, valued at approximately $20,179,370.88. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mina Rezk sold 86,889 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $62,639,850.95. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 4,213,506 shares of company stock worth $24,985,345 and sold 652,079 shares worth $3,947,397. 27.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AEVA. Barclays PLC lifted its stake in Aeva Technologies by 276.4% in the third quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after buying an additional 21,964 shares during the last quarter. PFG Investments LLC purchased a new stake in Aeva Technologies in the fourth quarter valued at approximately $48,000. Rhumbline Advisers lifted its stake in Aeva Technologies by 13.2% in the fourth 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in Aeva Technologies in the fourth quarter valued at approximately $88,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Aeva Technologies by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after buying an additional 30,924 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.