Aeva Technologies, Inc. (NASDAQ:AEVA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have earned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.50.

AEVA has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price target on shares of Aeva Technologies in a research note on Thursday, December 4th.

Aeva Technologies Price Performance

Shares of NASDAQ:AEVA opened at $15.79 on Monday. The company’s 50-day moving average price is $14.47 and its two-hundred day moving average price is $16.03. Aeva Technologies has a one year low of $2.52 and a one year high of $38.80. The stock has a market capitalization of $948.66 million, a PE ratio of -2.97 and a beta of 2.08.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. The company had revenue of $3.58 million during the quarter. On average, analysts anticipate that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aeva Technologies news, CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the sale, the chief financial officer owned 627,756 shares in the company, valued at $12,956,883.84. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Mina Rezk sold 321,723 shares of Aeva Technologies stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $12.96, for a total value of $4,169,530.08. Following the transaction, the chief technology officer owned 1,534,547 shares of the company’s stock, valued at $19,887,729.12. This represents a 17.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,651,923 shares of company stock valued at $22,904,227 over the last 90 days. 27.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several institutional investors and hedge funds have recently modified their holdings of AEVA. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 415 shares during the period. Quantbot Technologies LP bought a new position in Aeva Technologies in the 2nd quarter valued at about $36,000. Total Investment Management Inc. bought a new position in Aeva Technologies in the 2nd quarter valued at about $43,000. AlphaQuest LLC acquired a new stake in Aeva Technologies during the second quarter worth approximately $51,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Aeva Technologies by 356.3% during the second quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company’s stock worth $80,000 after acquiring an additional 1,657 shares during the period. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.