Aeva Technologies, Inc. (NASDAQ:AEVA) Receives $18.33 Average Price Target from Brokerages

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.3333.

AEVA has been the topic of several research analyst reports. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Canaccord Genuity Group raised their target price on Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Oppenheimer upped their price target on Aeva Technologies from $18.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Morgan Stanley increased their price target on Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Roth Capital upped their target price on Aeva Technologies from $17.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 69,901 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $30.53, for a total value of $2,134,077.53. Following the completion of the sale, the chief executive officer directly owned 1,897,862 shares of the company’s stock, valued at $57,941,726.86. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Hrach Simonian sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 3,597,039 shares in the company, valued at $89,422,389.54. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 772,164 shares of company stock worth $15,598,535. Company insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in shares of Aeva Technologies by 170.0% in the fourth quarter. Bank of America Corp DE now owns 48,255 shares of the company’s stock valued at $229,000 after acquiring an additional 30,380 shares during the period. Deutsche Bank AG lifted its stake in Aeva Technologies by 510.8% in the 4th quarter. Deutsche Bank AG now owns 45,039 shares of the company’s stock worth $214,000 after purchasing an additional 37,665 shares in the last quarter. Millennium Management LLC bought a new position in Aeva Technologies in the 4th quarter valued at $174,000. Two Sigma Investments LP grew its position in shares of Aeva Technologies by 308.6% during the 4th quarter. Two Sigma Investments LP now owns 74,288 shares of the company’s stock valued at $353,000 after purchasing an additional 56,107 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Aeva Technologies by 2,490.3% during the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock valued at $3,082,000 after purchasing an additional 623,889 shares in the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Stock Down 6.3%

Shares of Aeva Technologies stock opened at $13.76 on Monday. The company’s fifty day moving average is $25.09 and its 200 day moving average is $13.05. Aeva Technologies has a twelve month low of $2.36 and a twelve month high of $38.80. The stock has a market cap of $757.08 million, a price-to-earnings ratio of -2.50 and a beta of 1.94.

Aeva Technologies (NASDAQ:AEVA) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 130.04%. The business had revenue of $5.51 million during the quarter, compared to analyst estimates of $3.40 million. As a group, equities analysts anticipate that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Aeva Technologies Company Profile

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.