Aeva Technologies, Inc. (NASDAQ:AEVA) Receives $26.50 Consensus Target Price from Analysts

Aeva Technologies, Inc. (NASDAQ:AEVA) has earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.50.

Several equities research analysts have recently commented on AEVA shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a 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 reiterated a “buy” rating and issued a $24.00 target price on shares of Aeva Technologies in a report on Thursday, December 4th.

Aeva Technologies Stock Performance

NASDAQ AEVA opened at $12.54 on Friday. Aeva Technologies has a 1 year low of $2.52 and a 1 year high of $38.80. The business’s fifty day moving average is $14.80 and its two-hundred day moving average is $14.63. The stock has a market capitalization of $753.40 million, a P/E ratio of -2.36 and a beta of 2.09.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 321,723 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $12.96, for a total transaction of $4,169,530.08. Following the transaction, the chief technology officer directly owned 1,534,547 shares of the company’s stock, valued at approximately $19,887,729.12. The trade was a 17.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Soroush Salehian Dardashti sold 488,160 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $12.96, for a total value of $6,326,553.60. Following the sale, the chief executive officer owned 1,831,199 shares of the company’s stock, valued at $23,732,339.04. The trade was a 21.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,032,213 shares of company stock worth $14,722,858. Corporate insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Duquesne Family Office LLC acquired a new position in shares of Aeva Technologies during the 3rd quarter valued at about $26,670,000. Millennium Management LLC bought a new stake in Aeva Technologies during the third quarter worth approximately $25,751,000. Delta Global Management LP acquired a new position in Aeva Technologies during the third quarter valued at approximately $18,139,000. Arrowstreet Capital Limited Partnership raised its position in shares of Aeva Technologies by 1,630.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company’s stock valued at $41,760,000 after purchasing an additional 1,041,176 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after purchasing an additional 885,774 shares during the period. Hedge funds and other 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.