Aeva Technologies (NASDAQ:AEVA) Stock Bumped Up to “Sell” by Wall Street Zen

Wall Street Zen upgraded shares of Aeva Technologies (NASDAQ:AEVA) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

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

Aeva Technologies Trading Down 10.3%

Shares of AEVA stock traded down $1.22 on Friday, hitting $10.58. The company had a trading volume of 2,163,397 shares, compared to its average volume of 1,888,853. The firm has a market cap of $739.54 million, a P/E ratio of -3.85 and a beta of 2.56. The stock’s 50-day moving average is $12.69 and its two-hundred day moving average is $16.58. The company has a debt-to-equity ratio of 2.24, a quick ratio of 7.63 and a current ratio of 6.26. Aeva Technologies has a twelve month low of $8.26 and a twelve month high of $31.30.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 70,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $21.21, for a total transaction of $1,484,700.00. Following the transaction, the chief financial officer directly owned 581,372 shares of the company’s stock, valued at $12,330,900.12. This represents a 10.75% 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. Also, CEO Soroush Dardashti sold 42,262 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $8.82, for a total transaction of $372,750.84. Following the completion of the sale, the chief executive officer owned 1,487,471 shares of the company’s stock, valued at $13,119,494.22. The trade was a 2.76% 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. Insiders have sold a total of 224,581 shares of company stock valued at $3,216,322 over the last ninety days. 36.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklands Fund Management Ltd bought a new stake in shares of Aeva Technologies during the third quarter worth about $23,158,000. Marshall Wace LLP raised its holdings in shares of Aeva Technologies by 23.5% in the 3rd quarter. Marshall Wace LLP now owns 1,803,620 shares of the company’s stock worth $25,323,000 after acquiring an additional 343,351 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of 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 during the last quarter. Siren L.L.C. bought a new position in Aeva Technologies in the 1st quarter valued at about $1,448,000. Finally, Walleye Capital LLC bought a new position in Aeva Technologies in the 1st quarter valued at about $1,401,000. Institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

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.