Essex Investment Management Co. LLC Invests $610,000 in Aeva Technologies, Inc. $AEVA

Essex Investment Management Co. LLC bought a new stake in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,064 shares of the company’s stock, valued at approximately $610,000. Essex Investment Management Co. LLC owned approximately 0.07% of Aeva Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in Aeva Technologies during the 2nd quarter valued at $36,000. Jones Financial Companies Lllp lifted its position in shares of Aeva Technologies by 27,345.0% in the 1st 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. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies during the 2nd quarter valued at about $43,000. AlphaQuest LLC bought a new stake in shares of Aeva Technologies during the 2nd quarter valued at about $51,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Aeva Technologies during the third quarter valued at about $57,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Stock Performance

AEVA stock opened at $12.94 on Wednesday. The firm has a 50 day moving average price of $15.18 and a 200-day moving average price of $14.88. Aeva Technologies, Inc. has a 52-week low of $2.52 and a 52-week high of $38.80. The firm has a market capitalization of $777.44 million, a price-to-earnings ratio of -2.43 and a beta of 2.09.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated 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 research report on Thursday, December 4th. Finally, Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.50.

Insiders Place Their Bets

In other Aeva Technologies news, CTO Mina Rezk sold 64,787 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $18.85, for a total value of $1,221,234.95. Following the sale, the chief technology officer directly owned 1,469,760 shares of the company’s stock, valued at approximately $27,704,976. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $18.85, for a total value of $1,221,234.95. Following the transaction, the chief executive officer owned 1,766,412 shares of the company’s stock, valued at $33,296,866.20. The trade was a 3.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,080,299 shares of company stock valued at $15,202,276. 27.20% of the stock is currently owned by corporate 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.