Insider Selling: Aeva Technologies (NASDAQ:AEVA) CFO Sells $436,319.20 in Stock

Aeva Technologies, Inc. (NASDAQ:AEVA) CFO Saurabh Sinha sold 20,620 shares of Aeva Technologies stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the sale, the chief financial officer directly owned 658,202 shares of the company’s stock, valued at $13,927,554.32. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Saurabh Sinha also recently made the following trade(s):

• On Thursday, July 2nd, Saurabh Sinha sold 11,212 shares of Aeva Technologies stock. The stock was sold at an average price of $26.75, for a total transaction of $299,921.00.
• On Tuesday, May 5th, Saurabh Sinha sold 5,643 shares of Aeva Technologies stock. The shares were sold at an average price of $15.04, for a total value of $84,870.72.

Aeva Technologies Trading Down 5.8%

NASDAQ AEVA opened at $18.67 on Thursday. The stock’s 50-day simple moving average is $22.84 and its two-hundred day simple moving average is $17.60. Aeva Technologies, Inc. has a twelve month low of $8.83 and a twelve month high of $33.24. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.74 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.12. The firm had revenue of $6.26 million for the quarter. Research analysts forecast that Aeva Technologies, Inc. will post -2.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AEVA. Bank of America Corp DE lifted its stake in shares of Aeva Technologies by 27.7% in the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after acquiring an additional 23,856 shares during the last quarter. Royal Bank of Canada grew its position in Aeva Technologies by 51.7% during the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock worth $375,000 after acquiring an additional 9,720 shares during the last quarter. Quantinno Capital Management LP increased its stake in Aeva Technologies by 15.4% in the 1st quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock worth $318,000 after purchasing an additional 3,218 shares during the period. Sona Asset Management US LLC bought a new stake in Aeva Technologies in the first quarter valued at approximately $987,000. Finally, Siren L.L.C. purchased a new stake in shares of Aeva Technologies during the first quarter valued at approximately $1,448,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEVA. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.50.

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.