Delta Global Management LP Decreases Stock Holdings in Aeva Technologies, Inc. $AEVA

Delta Global Management LP reduced its position in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) by 31.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,105,868 shares of the company’s stock after selling 517,280 shares during the quarter. Delta Global Management LP’s holdings in Aeva Technologies were worth $14,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after acquiring an additional 4,707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after acquiring an additional 630 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Aeva Technologies by 27,345.0% during the first 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. Prudential Financial Inc. purchased a new stake in shares of Aeva Technologies during the second quarter worth about $446,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Aeva Technologies during the second quarter worth about $1,239,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.50.

Aeva Technologies Stock Down 7.8%

Shares of Aeva Technologies stock opened at $14.85 on Friday. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The company’s fifty day simple moving average is $22.66 and its two-hundred day simple moving average is $17.73. The company has a market cap of $936.14 million, a P/E ratio of -2.98 and a beta of 2.40. Aeva Technologies, Inc. has a 12-month low of $8.83 and a 12-month high of $31.30.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.12. The company had revenue of $6.26 million during the quarter. Research analysts anticipate that Aeva Technologies, Inc. will post -2.26 EPS for the current year.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $5,536,824.93. Following the completion of the sale, the chief executive officer directly owned 1,659,957 shares in the company, valued at $40,785,143.49. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Mina Rezk sold 350,000 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $8,599,500.00. Following 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 have sold 863,922 shares of company stock worth $20,034,803 over the last 90 days. 36.70% of the stock is owned by company insiders.

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.