Aeva Technologies (NASDAQ:AEVA) Stock Price Down 9.9% on Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA) shares fell 9.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $24.78 and last traded at $25.06. Approximately 1,072,896 shares changed hands during trading, a decline of 56% from the average daily volume of 2,457,834 shares. The stock had previously closed at $27.80.

Specifically, CFO Saurabh Sinha sold 11,212 shares of Aeva Technologies stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $26.75, for a total transaction of $299,921.00. Following the completion of the sale, the chief financial officer directly owned 678,822 shares of the company’s stock, valued at approximately $18,158,488.50. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AEVA shares. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.33.

Aeva Technologies Stock Performance

The stock has a market capitalization of $1.51 billion, a P/E ratio of -4.81 and a beta of 2.40. The stock’s fifty day moving average price is $22.01 and its two-hundred day moving average price is $17.18. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. Equities research analysts forecast that Aeva Technologies, Inc. will post -2.25 EPS for the current year.

Institutional Trading of Aeva Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Duquesne Family Office LLC purchased a new stake in shares of Aeva Technologies during the third quarter valued at approximately $26,670,000. Millennium Management LLC purchased a new position in shares of Aeva Technologies in the third quarter worth $25,751,000. Delta Global Management LP purchased a new position in shares of Aeva Technologies in the third quarter worth $18,139,000. Handelsbanken Fonder AB raised its holdings in Aeva Technologies by 158.3% during the 4th 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 during the last quarter. Finally, Invesco Ltd. raised its holdings in Aeva Technologies by 1,223.8% during the 2nd quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock valued at $23,219,000 after buying an additional 567,998 shares during the last quarter. Institutional investors 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.