Aeva Technologies (NASDAQ:AEVA) Shares Up 6.5% – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price shot up 6.5% on Friday . The stock traded as high as $33.44 and last traded at $32.89. 2,356,378 shares traded hands during trading, a decline of 19% from the average session volume of 2,899,560 shares. The stock had previously closed at $30.88.

Analyst Ratings Changes

Several brokerages have recently weighed in on AEVA. Roth Capital raised their target price on Aeva Technologies from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Canaccord Genuity Group increased their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Oppenheimer increased their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of Aeva Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, Morgan Stanley increased 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Aeva Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Aeva Technologies Stock Up 6.5%

The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -11.62 and a beta of 1.95. The company’s 50-day simple moving average is $19.70 and its 200-day simple moving average is $9.98.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, Director Hrach Simonian sold 100,000 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $24.86, for a total transaction of $2,486,000.00. Following the completion of the transaction, the director owned 3,597,039 shares of the company’s stock, valued at $89,422,389.54. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Saurabh Sinha sold 10,123 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $31.09, for a total transaction of $314,724.07. Following the transaction, the chief financial officer owned 992,949 shares in the company, valued at approximately $30,870,784.41. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 970,051 shares of company stock worth $13,224,093 in the last 90 days. 27.20% of the stock is currently owned by company insiders.

Institutional Trading of Aeva Technologies

Several large investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC grew its holdings in Aeva Technologies by 56.4% during the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company’s stock worth $113,600,000 after acquiring an additional 5,849,249 shares during the period. Parkwood LLC grew its holdings in Aeva Technologies by 415.7% during the 4th quarter. Parkwood LLC now owns 1,426,627 shares of the company’s stock worth $6,776,000 after acquiring an additional 1,150,000 shares during the period. Jane Street Group LLC grew its holdings in Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after acquiring an additional 623,889 shares during the period. Geode Capital Management LLC grew its holdings in Aeva Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock worth $2,951,000 after acquiring an additional 9,318 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 worth $1,151,000 after acquiring an additional 30,924 shares during the period. 62.92% of the stock is owned by institutional investors.

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.