Aeva Technologies (NASDAQ:AEVA) Stock Price Up 11.9% – Should You Buy?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) traded up 11.9% during mid-day trading on Monday . The stock traded as high as $15.27 and last traded at $14.84. 1,251,371 shares were traded during mid-day trading, a decline of 62% from the average session volume of 3,325,171 shares. The stock had previously closed at $13.26.

Wall Street Analysts Forecast Growth

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

Aeva Technologies Stock Up 9.3%

The company has a market cap of $870.56 million, a price-to-earnings ratio of -2.86 and a beta of 2.09. The company has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $14.62.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, topping 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 business had revenue of $5.62 million for the quarter, compared to analyst estimates of $3.69 million. On average, research analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 488,160 shares of Aeva Technologies stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total transaction of $6,326,553.60. Following the sale, the chief executive officer owned 1,831,199 shares in the company, valued at $23,732,339.04. This trade represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the completion of the transaction, the chief financial officer owned 627,756 shares of the company’s stock, valued at $12,956,883.84. This trade represents a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,032,213 shares of company stock worth $14,722,858. 27.20% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

Several large investors have recently modified their holdings of AEVA. Delta Global Management LP lifted its stake in shares of Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock worth $21,555,000 after acquiring an additional 372,159 shares in the last quarter. Yaupon Capital Management LP acquired a new position in shares of Aeva Technologies in the 4th quarter valued at approximately $2,269,000. Inspire Investing LLC raised its position in shares of Aeva Technologies by 13.0% in the 4th quarter. Inspire Investing LLC now owns 35,300 shares of the company’s stock valued at $469,000 after purchasing an additional 4,073 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Aeva Technologies by 18.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,007 shares of the company’s stock valued at $253,000 after buying an additional 2,961 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Aeva Technologies by 42.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company’s stock worth $6,640,000 after buying an additional 150,000 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.