Aeva Technologies (NASDAQ:AEVA) Stock Crosses Below Fifty Day Moving Average on Insider Selling

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) passed below its fifty day moving average during trading on Thursday following insider selling activity. The stock has a fifty day moving average of $12.78 and traded as low as $11.69. Aeva Technologies shares last traded at $11.80, with a volume of 1,113,875 shares changing hands.

Specifically, CTO Mina Rezk sold 50,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $12.08, for a total value of $604,000.00. Following the sale, the chief technology officer owned 1,556,669 shares of the company’s stock, valued at approximately $18,804,561.52. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mina Rezk sold 28,173 shares of Aeva Technologies stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $8.82, for a total transaction of $248,485.86. Following the transaction, the chief technology officer directly owned 1,499,060 shares of the company’s stock, valued at approximately $13,221,709.20. This represents a 1.84% 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. In related news, CEO Soroush Dardashti sold 42,262 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $8.82, for a total transaction of $372,750.84. Following the transaction, the chief executive officer directly owned 1,487,471 shares in the company, valued at approximately $13,119,494.22. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

A number of research firms recently weighed in on AEVA. Morgan Stanley increased their price objective on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Canaccord Genuity Group boosted their target price on Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. The Goldman Sachs Group assumed coverage on Aeva Technologies in a research note on Monday, August 24th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.75.

Aeva Technologies Stock Performance

The firm has a market capitalization of $824.82 million, a P/E ratio of -4.29 and a beta of 2.56. The company has a debt-to-equity ratio of 2.24, a current ratio of 6.26 and a quick ratio of 7.63. The firm has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $16.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AEVA. Brooklands Fund Management Ltd bought a new stake in Aeva Technologies during the 3rd quarter valued at about $23,158,000. CenterBook Partners LP grew its stake in Aeva Technologies by 174.2% in the 3rd quarter. CenterBook Partners LP now owns 481,383 shares of the company’s stock worth $6,759,000 after acquiring an additional 305,792 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Aeva Technologies in the 2nd quarter worth about $2,382,000. Titan Global Capital Management USA LLC grew its stake in Aeva Technologies by 95.1% in the 1st quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company’s stock worth $2,102,000 after acquiring an additional 77,856 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Aeva Technologies by 27.7% during the first quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock worth $1,448,000 after acquiring an additional 23,856 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies develops lidar sensing systems and perception software for automotive and other industrial applications. Its technology uses frequency-modulated continuous-wave (FMCW) lidar to measure distance and the speed of objects, supporting applications such as vehicle perception and automation. The company’s offerings include lidar sensors designed for automotive use, including its Atlas system, as well as sensing and perception solutions for industrial customers. Aeva’s products are intended to help machines detect and interpret objects in their surroundings.