Aeva Technologies (NASDAQ:AEVA) Shares Gap Down – Here’s Why

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) gapped down prior to trading on Thursday . The stock had previously closed at $25.31, but opened at $22.50. Aeva Technologies shares last traded at $22.44, with a volume of 1,292,482 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on AEVA. Wall Street Zen cut shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Trading Down 3.2%

The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The stock has a market capitalization of $1.54 billion, a P/E ratio of -4.91 and a beta of 2.41. The firm’s fifty day simple moving average is $17.65 and its 200 day simple moving average is $15.39.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the transaction, the chief technology officer directly owned 1,442,371 shares of the company’s stock, valued at $21,693,259.84. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Soroush Salehian Dardashti sold 41,083 shares of the firm’s 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 sale, the chief executive officer owned 1,725,329 shares in the company, valued at approximately $25,948,948.16. The trade was a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 74,115 shares of company stock valued at $1,114,690 in the last ninety days. 36.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of institutional investors have recently modified their holdings of AEVA. Quantbot Technologies LP boosted its stake in shares of Aeva Technologies by 122.8% in 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. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Aeva Technologies in the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp increased its holdings in Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Aeva Technologies in the fourth quarter worth approximately $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in Aeva Technologies by 79.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock worth $58,000 after purchasing an additional 1,922 shares in the last quarter. 62.92% of the stock is owned by institutional investors.

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.