Aeva Technologies (NASDAQ:AEVA) Trading Up 12.6% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price rose 12.6% during trading on Friday . The stock traded as high as $19.58 and last traded at $19.02. Approximately 2,122,530 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 6,299,785 shares. The stock had previously closed at $16.89.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEVA. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a research report on Monday, December 29th. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 target price on shares of Aeva Technologies in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The stock has a market cap of $1.19 billion, a PE ratio of -3.73 and a beta of 2.08. The firm has a 50-day moving average price of $13.19 and a 200-day moving average price of $17.09.

Aeva Technologies (NASDAQ:AEVA) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter. The firm had revenue of $3.58 million for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. As a group, sell-side analysts anticipate that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 321,723 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $4,169,530.08. Following the completion of the transaction, the chief technology officer directly owned 1,534,547 shares in the company, valued at $19,887,729.12. The trade was a 17.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 488,160 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $6,326,553.60. Following the completion of the transaction, the chief executive officer directly owned 1,831,199 shares in the company, valued at $23,732,339.04. This trade represents a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,441,740 shares of company stock valued at $18,834,878 over the last 90 days. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Aeva Technologies by 29.2% during the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after acquiring an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after purchasing an additional 630 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. GAMMA Investing LLC lifted its position in Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares during the period. Finally, Perennial Advisors LLC purchased a new stake in Aeva Technologies in the second quarter worth approximately $227,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.