Aeva Technologies (NASDAQ:AEVA) Trading Down 11% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price fell 11% on Monday . The company traded as low as $22.91 and last traded at $23.69. Approximately 477,687 shares were traded during trading, a decline of 80% from the average daily volume of 2,335,801 shares. The stock had previously closed at $26.62.

Analysts Set New Price Targets

Several research firms have issued reports on AEVA. Oppenheimer restated an “outperform” rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday. Wall Street Zen cut shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeva Technologies in a research report on Friday. Finally, Canaccord Genuity Group increased their price target on Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.67.

Aeva Technologies Stock Performance

The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63. The stock has a fifty day simple moving average of $21.57 and a two-hundred day simple moving average of $17.76. The firm has a market capitalization of $1.53 billion, a P/E ratio of -8.91 and a beta of 2.47.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 10,304 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $15.40, for a total transaction of $158,681.60. Following the transaction, the chief technology officer directly owned 1,527,223 shares of the company’s stock, valued at $23,519,234.20. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Soroush Salehian Dardashti sold 10,304 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $15.40, for a total transaction of $158,681.60. Following the completion of the sale, the chief executive officer owned 1,584,832 shares of the company’s stock, valued at $24,406,412.80. The trade was a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 817,245 shares of company stock worth $19,342,658. 36.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after buying an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Aeva Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after buying an additional 630 shares during the period. Jones Financial Companies Lllp raised its stake in 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 buying an additional 5,469 shares during the period. Prudential Financial Inc. bought a new position in Aeva Technologies in the second quarter worth approximately $446,000. Finally, Russell Investments Group Ltd. bought a new position in Aeva Technologies in the second quarter worth approximately $1,239,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

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.