Aeva Technologies Sees Unusually Large Options Volume (NASDAQ:AEVA)

Aeva Technologies, Inc. (NASDAQ:AEVA) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 4,289 call options on the stock. This is an increase of approximately 158% compared to the typical volume of 1,660 call options.

Aeva Technologies Stock Performance

Shares of NASDAQ AEVA traded up $3.07 during mid-day trading on Tuesday, hitting $16.16. The stock had a trading volume of 9,189,017 shares, compared to its average volume of 4,197,345. The business has a 50 day moving average price of $13.07 and a two-hundred day moving average price of $17.28. Aeva Technologies has a 1 year low of $2.52 and a 1 year high of $38.80. The firm has a market cap of $970.89 million, a P/E ratio of -3.04 and a beta of 2.08.

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

Insiders Place Their Bets

In related news, 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 transaction of $6,326,553.60. Following the transaction, the chief executive officer directly owned 1,831,199 shares of the company’s stock, valued at approximately $23,732,339.04. This trade represents a 21.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mina Rezk sold 321,723 shares of the company’s 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 completion of the sale, the chief technology officer directly owned 1,534,547 shares of the company’s stock, valued at approximately $19,887,729.12. This represents a 17.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,441,740 shares of company stock valued at $18,834,878 over the last 90 days. Insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP raised its position in Aeva Technologies by 122.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the last quarter. GAMMA Investing LLC increased its position in Aeva Technologies by 92.2% during the 2nd 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. Jones Financial Companies Lllp increased its position in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after buying an additional 5,469 shares during the period. Total Investment Management Inc. bought a new position in shares of Aeva Technologies in the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC bought a new position in Aeva Technologies in the second quarter worth $51,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Aeva Technologies in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.50.

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.