Aeva Technologies (NASDAQ:AEVA) Shares Up 11.5% – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA) shot up 11.5% on Monday . The company traded as high as $13.94 and last traded at $13.83. 889,453 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,222,650 shares. The stock had previously closed at $12.40.

Analysts Set New Price Targets

AEVA has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 target price on shares of Aeva Technologies in a report on Thursday, December 4th. Finally, Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Aeva Technologies presently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The firm has a market capitalization of $841.12 million, a price-to-earnings ratio of -2.63 and a beta of 2.09. The firm has a fifty day moving average price of $15.07 and a 200 day moving average price of $15.01.

Insiders Place Their Bets

In other news, CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the transaction, the chief financial officer directly owned 627,756 shares of the company’s stock, valued at $12,956,883.84. This represents a 8.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the completion of the sale, the chief executive officer owned 1,766,412 shares of the company’s stock, valued at $33,296,866.20. This trade represents a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,080,299 shares of company stock worth $15,202,276. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Titan Global Capital Management USA LLC purchased a new position in shares of Aeva Technologies in the second quarter valued at $2,500,000. Campbell & CO Investment Adviser LLC purchased a new position in Aeva Technologies during the 2nd quarter valued at about $1,125,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Aeva Technologies during the second quarter worth about $7,960,000. Employees Retirement System of Texas acquired a new position in Aeva Technologies during the second quarter worth about $2,859,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Aeva Technologies by 28.7% in 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 in the last quarter. 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.