Aeva Technologies (NASDAQ:AEVA) Stock Price Down 7.8% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares were down 7.8% during mid-day trading on Tuesday . The company traded as low as $17.75 and last traded at $17.93. Approximately 235,209 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,389,886 shares. The stock had previously closed at $19.45.

Analyst Ratings Changes

A number of equities analysts have issued reports on AEVA shares. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Three investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Price Performance

The firm has a fifty day moving average of $15.21 and a 200 day moving average of $14.41. The company has a market capitalization of $1.20 billion, a P/E ratio of -3.81 and a beta of 2.20. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

Insiders Place Their Bets

In other Aeva Technologies news, CFO Saurabh Sinha sold 32,079 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total value of $447,181.26. Following the transaction, the chief financial officer directly owned 595,677 shares of the company’s stock, valued at approximately $8,303,737.38. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mina Rezk sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $411,930.56. Following the completion of the transaction, the chief technology officer directly owned 1,442,371 shares in the company, valued at $21,693,259.84. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 106,194 shares of company stock valued at $1,561,871. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Duquesne Family Office LLC purchased a new stake in shares of Aeva Technologies during the 3rd quarter worth approximately $26,670,000. Millennium Management LLC bought a new position in shares of Aeva Technologies during the 3rd quarter valued at approximately $25,751,000. Delta Global Management LP bought a new position in shares of Aeva Technologies during the 3rd quarter valued at approximately $18,139,000. Handelsbanken Fonder AB increased its position in shares of 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 purchasing an additional 885,774 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of 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 purchasing an additional 567,998 shares during the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.