Aeva Technologies (NASDAQ:AEVA) Trading Down 9.3% – Here’s Why

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

Analyst Upgrades and Downgrades

AEVA has been the topic of several research reports. 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Down 11.1%

The company’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $14.74. The company has a current ratio of 4.28, a quick ratio of 2.95 and a debt-to-equity ratio of 7.32. The firm has a market cap of $794.40 million, a PE ratio of -2.49 and a beta of 2.09.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the completion of the sale, the chief financial officer owned 627,756 shares in the company, valued at $12,956,883.84. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Mina Rezk sold 321,723 shares of Aeva Technologies stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $4,169,530.08. Following the transaction, the chief technology officer directly owned 1,534,547 shares in the company, valued at approximately $19,887,729.12. The trade was a 17.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Aeva Technologies by 29.2% during the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $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 purchasing an additional 630 shares during the period. Jones Financial Companies Lllp raised its position in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares during the period. Geode Capital Management LLC lifted its stake in shares of Aeva Technologies by 28.7% during the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock valued at $30,548,000 after buying an additional 180,269 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in Aeva Technologies in the 2nd quarter worth $938,000. Institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.