Aeva Technologies (NASDAQ:AEVA) Trading Down 9.3% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price dropped 9.3% on Friday . The company traded as low as $12.88 and last traded at $12.88. Approximately 385,158 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,779,405 shares. The stock had previously closed at $14.20.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Aeva Technologies in a research report on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Aeva Technologies in a research report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The stock’s fifty day moving average is $14.37 and its two-hundred day moving average is $14.73. The firm has a market capitalization of $803.87 million, a price-to-earnings ratio of -2.52 and a beta of 2.09. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.95 and a current ratio of 4.28.

Insider Transactions at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 64,787 shares of the company’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 transaction, the chief technology officer directly owned 1,469,760 shares of the company’s stock, valued at $27,704,976. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Saurabh Sinha sold 32,079 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the sale, the chief financial officer directly owned 595,677 shares of the company’s stock, valued at $8,303,737.38. The trade was a 5.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,064,292 shares of company stock valued at $15,170,040. 27.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AEVA. AQR Capital Management LLC grew its stake in Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after purchasing an additional 4,707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after acquiring an additional 630 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Aeva Technologies in the 2nd quarter worth about $938,000. Finally, Handelsbanken Fonder AB acquired a new position in Aeva Technologies during the 2nd quarter valued at approximately $622,000. 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.