Aeva Technologies (NYSE:AEVA) Trading Down 7.8% on Insider Selling

Aeva Technologies, Inc. (NYSE:AEVA)’s stock price traded down 7.8% on Tuesday after an insider sold shares in the company. The company traded as low as $13.74 and last traded at $14.36. 873,118 shares were traded during trading, an increase of 39% from the average session volume of 627,675 shares. The stock had previously closed at $15.58.

Specifically, CTO Mina Rezk sold 250,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the sale, the chief technology officer now directly owns 8,046,669 shares of the company’s stock, valued at $126,332,703.30. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,514,808 shares in the company, valued at $55,182,485.60. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AEVA shares. Oppenheimer raised their price target on Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Canaccord Genuity Group raised their price target on Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Roth Capital raised their price target on Aeva Technologies from $6.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Morgan Stanley raised their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.33.

Aeva Technologies Stock Down 4.0%

The company has a 50 day moving average of $7.86 and a two-hundred day moving average of $5.43. The firm has a market cap of $822.95 million, a P/E ratio of -4.84 and a beta of 1.07.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after buying an additional 630 shares in the last quarter. AQR Capital Management LLC boosted its stake in Aeva Technologies by 29.2% during the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after buying an additional 4,707 shares in the last quarter. Barclays PLC boosted its stake in Aeva Technologies by 16.3% during the fourth quarter. Barclays PLC now owns 34,800 shares of the company’s stock valued at $166,000 after buying an additional 4,890 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Aeva Technologies by 27,345.0% during the first 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 in the last quarter. Finally, Rhumbline Advisers boosted its stake in Aeva Technologies by 13.2% during 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 in the last quarter. 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.