Aeva Technologies (NASDAQ:AEVA) Price Target Raised to $19.00

Aeva Technologies (NASDAQ:AEVA) had its target price raised by Morgan Stanley from $11.00 to $19.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts also recently issued reports on AEVA. Roth Capital increased their price objective on shares of Aeva Technologies from $17.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. 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 report on Thursday, May 15th. Oppenheimer increased their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.33.

Aeva Technologies Stock Down 15.0%

AEVA opened at $15.85 on Friday. The company has a market cap of $872.07 million, a price-to-earnings ratio of -2.88 and a beta of 1.94. Aeva Technologies has a 52-week low of $2.36 and a 52-week high of $38.80. The firm’s fifty day simple moving average is $25.20 and its two-hundred day simple moving average is $12.96.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The company had revenue of $5.51 million for the quarter, compared to analysts’ expectations of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 130.04%. On average, research analysts forecast that Aeva Technologies will post -2.7 EPS for the current year.

Insider Buying and Selling at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00. Following the transaction, the chief executive officer directly owned 3,514,808 shares of the company’s stock, valued at approximately $55,182,485.60. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Hrach Simonian sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was 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 directly owned 3,597,039 shares in the company, valued at approximately $89,422,389.54. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 772,164 shares of company stock valued at $15,598,535. Corporate insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors have recently bought and sold shares of the company. Sylebra Capital LLC raised its stake in Aeva Technologies by 56.4% during the first quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company’s stock worth $113,600,000 after purchasing an additional 5,849,249 shares during the period. Parkwood LLC raised its stake in Aeva Technologies by 415.7% during the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company’s stock worth $6,776,000 after purchasing an additional 1,150,000 shares during the period. Jane Street Group LLC raised its stake in Aeva Technologies by 2,490.3% during the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after purchasing an additional 623,889 shares during the period. Geode Capital Management LLC raised its stake in Aeva Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock worth $2,951,000 after purchasing an additional 9,318 shares during the period. Finally, Northern Trust Corp increased its position in shares of Aeva Technologies by 5.0% during the fourth quarter. Northern Trust Corp now owns 208,287 shares of the company’s stock valued at $989,000 after acquiring an additional 9,984 shares during 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.