Millennium Management LLC Takes Position in Aeva Technologies, Inc. (NASDAQ:AEVA)

Millennium Management LLC purchased a new stake in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 36,536 shares of the company’s stock, valued at approximately $174,000. Millennium Management LLC owned approximately 0.07% of Aeva Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of Aeva Technologies by 2,490.3% during the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock valued at $3,082,000 after acquiring an additional 623,889 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Aeva Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock valued at $2,951,000 after purchasing an additional 9,318 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Aeva Technologies by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after purchasing an additional 30,924 shares in the last quarter. Northern Trust Corp grew its stake in Aeva Technologies by 5.0% during the 4th quarter. Northern Trust Corp now owns 208,287 shares of the company’s stock valued at $989,000 after purchasing an additional 9,984 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at approximately $451,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Canaccord Genuity Group increased their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Roth Capital boosted their target price on shares of Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Oppenheimer upped their target price on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.33.

Aeva Technologies Price Performance

Shares of AEVA opened at $23.67 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of -7.66 and a beta of 1.66. The business’s fifty day moving average price is $12.45 and its 200 day moving average price is $7.16. Aeva Technologies, Inc. has a 12-month low of $2.20 and a 12-month high of $24.23.

Insider Transactions at Aeva Technologies

In related news, major shareholder Sylebra Capital Llc acquired 821,610 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $5.48 per share, for a total transaction of $4,502,422.80. Following the purchase, the insider now directly owns 12,669,326 shares in the company, valued at $69,427,906.48. This represents a 6.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through 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. In the last three months, insiders have acquired 4,213,506 shares of company stock worth $24,985,345 and have sold 1,067,228 shares worth $11,550,119. Insiders own 27.20% 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.