Analysts Set Aeva Technologies, Inc. (NASDAQ:AEVA) Price Target at $26.50

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have been assigned a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.50.

AEVA has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a research report on Thursday, December 4th.

Aeva Technologies Trading Up 4.2%

Shares of Aeva Technologies stock opened at $15.21 on Tuesday. Aeva Technologies has a 1 year low of $3.20 and a 1 year high of $38.80. The company’s fifty day simple moving average is $15.00 and its 200-day simple moving average is $14.71. The company has a market cap of $913.82 million, a price-to-earnings ratio of -3.00 and a beta of 2.09.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.06. Aeva Technologies had a negative net margin of 804.40% and a negative return on equity of 603.21%. The firm had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $3.69 million. As a group, research analysts forecast that Aeva Technologies will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 64,787 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.85, for a total value of $1,221,234.95. Following the completion of the sale, the chief executive officer owned 1,766,412 shares in the company, valued at approximately $33,296,866.20. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mina Rezk sold 64,787 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.85, for a total value of $1,221,234.95. Following the sale, the chief technology officer owned 1,469,760 shares in the company, valued at approximately $27,704,976. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,064,292 shares of company stock worth $15,170,040. 27.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Duquesne Family Office LLC bought a new position in shares of Aeva Technologies during the 3rd quarter worth about $26,670,000. Millennium Management LLC bought a new stake in Aeva Technologies in the third quarter valued at about $25,751,000. Delta Global Management LP increased its stake in Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock valued at $21,555,000 after acquiring an additional 372,159 shares during the period. Vanguard Group Inc. raised its position in Aeva Technologies by 12.5% in the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after purchasing an additional 175,482 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after purchasing an additional 885,774 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

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.