Aeva Technologies (NASDAQ:AEVA) Shares Gap Down – Time to Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares gapped down before the market opened on Friday . The stock had previously closed at $29.21, but opened at $28.31. Aeva Technologies shares last traded at $27.12, with a volume of 342,812 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEVA. Wall Street Zen raised shares of Aeva Technologies from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Oppenheimer lifted their price objective on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Roth Capital lifted their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Morgan Stanley lifted their price objective on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Aeva Technologies Trading Down 10.6%

The stock’s fifty day moving average is $21.97 and its two-hundred day moving average is $10.87. The company has a market capitalization of $1.44 billion, a PE ratio of -9.22 and a beta of 1.95.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, Director Hrach Simonian sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 3,597,039 shares of the company’s stock, valued at $89,422,389.54. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Saurabh Sinha sold 22,239 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $30.53, for a total transaction of $678,956.67. Following the sale, the chief financial officer directly owned 970,710 shares in the company, valued at approximately $29,635,776.30. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,080 shares of company stock valued at $18,014,103 over the last quarter. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently added to or reduced their stakes in AEVA. Charles Schwab Investment Management Inc. lifted its holdings in Aeva Technologies by 14.6% during the fourth 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 during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter worth about $52,000. American Century Companies Inc. lifted its holdings in shares of Aeva Technologies by 34.9% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock worth $122,000 after buying an additional 6,640 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter worth about $451,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Aeva Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock worth $2,951,000 after buying an additional 9,318 shares in the last quarter. 62.92% of the stock is owned by hedge funds and other 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.