Aeva Technologies, Inc. (NASDAQ:AEVA) Given Consensus Rating of “Hold” by Analysts

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.50.

AEVA has been the subject of several recent analyst reports. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th.

Insider Activity

In other news, CFO Saurabh Sinha sold 32,079 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer directly owned 595,677 shares of the company’s stock, valued at approximately $8,303,737.38. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Soroush Salehian Dardashti sold 41,083 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $617,888.32. Following the completion of the transaction, the chief executive officer owned 1,725,329 shares of the company’s stock, valued at $25,948,948.16. This trade represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 106,194 shares of company stock valued at $1,561,871. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Duquesne Family Office LLC bought a new position in shares of Aeva Technologies in the third quarter valued at approximately $26,670,000. Millennium Management LLC bought a new position in Aeva Technologies during the third quarter valued at about $25,751,000. Delta Global Management LP boosted its stake in Aeva Technologies by 29.7% during the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock valued at $21,555,000 after buying an additional 372,159 shares in the last quarter. Vanguard Group Inc. boosted its stake in Aeva Technologies by 12.5% during the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock valued at $22,865,000 after buying an additional 175,482 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Aeva Technologies by 158.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after buying an additional 885,774 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Price Performance

Shares of NASDAQ:AEVA opened at $28.18 on Friday. The firm’s 50 day moving average is $16.92 and its two-hundred day moving average is $15.05. Aeva Technologies has a 52 week low of $8.83 and a 52 week high of $38.80. The firm has a market capitalization of $1.78 billion, a P/E ratio of -5.65 and a beta of 2.20. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

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.