Aeva Technologies (NASDAQ:AEVA) Trading 8.9% Higher on Analyst Upgrade

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price traded up 8.9% on Thursday after Oppenheimer raised their price target on the stock from $18.00 to $33.00. Oppenheimer currently has an outperform rating on the stock. Aeva Technologies traded as high as $30.28 and last traded at $30.01. 1,385,121 shares were traded during trading, a decline of 14% from the average session volume of 1,611,232 shares. The stock had previously closed at $27.56.

AEVA has been the subject of a number of other research reports. Roth Capital boosted their target price on shares of Aeva Technologies from $17.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Canaccord Genuity Group boosted their target price 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. 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 upped their price objective on shares of Aeva Technologies from $5.22 to $11.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Activity at Aeva Technologies

In related 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 value of $2,486,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the sale, the chief executive officer directly owned 3,514,808 shares in the company, valued at approximately $55,182,485.60. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,022,164 shares of company stock worth $17,337,453 over the last ninety days. Corporate insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Aeva Technologies by 92.2% in the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after acquiring an additional 415 shares during the period. Jones Financial Companies Lllp increased its stake in Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after acquiring an additional 5,469 shares during the period. Perennial Advisors LLC bought a new stake in Aeva Technologies in the second quarter valued at about $227,000. Intech Investment Management LLC bought a new stake in Aeva Technologies in the fourth quarter valued at about $52,000. Finally, Squarepoint Ops LLC bought a new stake in Aeva Technologies in the fourth quarter valued at about $54,000. Institutional investors own 62.92% of the company’s stock.

Aeva Technologies Price Performance

The stock has a market capitalization of $1.69 billion, a P/E ratio of -10.84 and a beta of 1.95. The company’s 50 day simple moving average is $23.47 and its two-hundred day simple moving average is $11.47.

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.