Aeva Technologies (NASDAQ:AEVA) Shares Gap Up – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA) gapped up prior to trading on Thursday . The stock had previously closed at $19.61, but opened at $25.80. Aeva Technologies shares last traded at $25.54, with a volume of 1,467,464 shares changing hands.

Analyst Upgrades and Downgrades

AEVA has been the subject of a number of research reports. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $42.00 price objective on shares of Aeva Technologies in a report on Thursday. Finally, Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Aeva Technologies presently has a consensus rating of “Hold” and an average target price of $33.00.

Aeva Technologies Stock Performance

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 firm’s 50 day simple moving average is $21.62 and its 200 day simple moving average is $17.67. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.58 and a beta of 2.47.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million during the quarter. Sell-side analysts forecast that Aeva Technologies, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Activity at Aeva Technologies

In related news, CFO Saurabh Sinha sold 20,620 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $436,319.20. Following the completion of the transaction, the chief financial officer directly owned 658,202 shares in the company, valued at $13,927,554.32. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 350,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the completion of the sale, the chief technology officer directly owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. The trade was a 17.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 817,245 shares of company stock worth $19,342,658 over the last three months. Company insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP raised its position in Aeva Technologies by 122.8% during the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after acquiring an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Aeva Technologies during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp grew its stake 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 worth $38,000 after purchasing an additional 5,469 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Aeva Technologies during the 4th quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Aeva Technologies by 79.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after purchasing an additional 1,922 shares during the period. 62.92% of the stock is owned by institutional investors and hedge funds.

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.