Piper Sandler Trims Aeva Technologies (NYSE:AEVA) Target Price to $10.00

Aeva Technologies (NYSE:AEVA) had its target price lowered by equities research analysts at Piper Sandler from $12.00 to $10.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 75.44% from the company’s previous close.

Separately, Craig Hallum lowered their price target on Aeva Technologies from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, November 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.71.

Shares of NYSE AEVA opened at $5.70 on Thursday. The business has a 50 day simple moving average of $8.40 and a 200 day simple moving average of $8.79. Aeva Technologies has a 52 week low of $5.51 and a 52 week high of $21.83.

Aeva Technologies (NYSE:AEVA) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.03). The company had revenue of $3.48 million during the quarter, compared to analyst estimates of $2.97 million. As a group, equities analysts forecast that Aeva Technologies will post -0.46 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Sylebra Capital Ltd boosted its position in Aeva Technologies by 2.7% during the third quarter. Sylebra Capital Ltd now owns 26,049,561 shares of the company’s stock worth $206,834,000 after purchasing an additional 680,391 shares during the period. Vanguard Group Inc. acquired a new position in shares of Aeva Technologies during the second quarter worth approximately $93,423,000. BlackRock Inc. lifted its holdings in shares of Aeva Technologies by 99.0% during the third quarter. BlackRock Inc. now owns 5,097,422 shares of the company’s stock worth $40,473,000 after buying an additional 2,535,777 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aeva Technologies by 56.9% during the third quarter. Geode Capital Management LLC now owns 1,588,088 shares of the company’s stock worth $12,609,000 after buying an additional 575,809 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Aeva Technologies during the second quarter worth approximately $8,101,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc, through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications. The company is based in Mountain View, California.

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