Aeva Technologies (NASDAQ:AEVA) Stock Price Up 11.5% – Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) traded up 11.5% during mid-day trading on Tuesday . The stock traded as high as $16.49 and last traded at $16.46. 629,858 shares were traded during trading, a decline of 80% from the average session volume of 3,134,015 shares. The stock had previously closed at $14.76.

Analysts Set New Price Targets

AEVA has been the topic of several recent analyst reports. 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. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Aeva Technologies presently has an average rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Stock Up 10.4%

The firm has a 50-day moving average of $14.86 and a 200 day moving average of $14.68. The stock has a market capitalization of $978.70 million, a P/E ratio of -3.21 and a beta of 2.09.

Aeva Technologies (NASDAQ:AEVA) last issued its earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.06. The business had revenue of $5.62 million for the quarter, compared to analyst estimates of $3.69 million. Aeva Technologies had a negative net margin of 804.40% and a negative return on equity of 603.21%. Analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insider Activity

In related news, CTO Mina Rezk sold 64,787 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the sale, the chief technology officer directly owned 1,469,760 shares in the company, valued at $27,704,976. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Saurabh Sinha sold 32,079 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total value of $447,181.26. Following the sale, the chief financial officer owned 595,677 shares in the company, valued at $8,303,737.38. The trade was a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,064,292 shares of company stock worth $15,170,040. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently modified their holdings of the business. Quantbot Technologies LP raised its position in shares of 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 acquiring an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp raised its holdings 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 worth $38,000 after acquiring an additional 5,469 shares during the period. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies in the second quarter valued at about $43,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Aeva Technologies in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds 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.