Aeva Technologies (NASDAQ:AEVA) Shares Up 9.7% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price traded up 9.7% during trading on Monday . The stock traded as high as $15.53 and last traded at $15.48. 870,891 shares changed hands during trading, a decline of 70% from the average session volume of 2,892,607 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price target on shares of Aeva Technologies in a research report on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Trading Up 11.6%

The firm has a market capitalization of $946.26 million, a price-to-earnings ratio of -3.11 and a beta of 2.09. The firm has a fifty day moving average price of $14.89 and a 200 day moving average price of $14.72.

Insiders Place Their Bets

In related news, CFO Saurabh Sinha sold 60,000 shares of Aeva Technologies stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the completion of the transaction, the chief financial officer directly owned 627,756 shares of the company’s stock, valued at $12,956,883.84. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mina Rezk sold 321,723 shares of Aeva Technologies stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $4,169,530.08. Following the completion of the transaction, the chief technology officer directly owned 1,534,547 shares of the company’s stock, valued at $19,887,729.12. This represents a 17.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,064,292 shares of company stock valued at $15,170,040. 27.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of hedge funds have recently added to or reduced their stakes in AEVA. Flight Deck Capital LP acquired a new stake in Aeva Technologies in the 3rd quarter valued at about $7,084,000. Delta Global Management LP acquired a new position in shares of Aeva Technologies during the third quarter worth approximately $18,139,000. Employees Retirement System of Texas bought a new stake in shares of Aeva Technologies during the second quarter valued at approximately $2,859,000. Geode Capital Management LLC grew its stake in shares of Aeva Technologies by 28.7% during the second quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock valued at $30,548,000 after purchasing an additional 180,269 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Aeva Technologies by 3,299.6% in the third quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock valued at $8,115,000 after purchasing an additional 543,173 shares in 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.