Aeva Technologies (NASDAQ:AEVA) Shares Down 9.9% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) fell 9.9% on Thursday . The stock traded as low as $24.78 and last traded at $25.06. 1,072,896 shares traded hands during trading, a decline of 56% from the average session volume of 2,457,834 shares. The stock had previously closed at $27.80.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aeva Technologies presently has a consensus rating of “Hold” and a consensus price target of $25.33.

Aeva Technologies Trading Down 11.9%

The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The company’s 50-day moving average price is $21.71 and its 200-day moving average price is $17.07. The firm has a market capitalization of $1.54 billion, a PE ratio of -4.91 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million during the quarter. On average, sell-side analysts expect that Aeva Technologies, Inc. will post -2.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Saurabh Sinha sold 5,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $84,870.72. Following the completion of the sale, the chief financial officer owned 590,034 shares in the company, valued at $8,874,111.36. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephen Paul Zadesky sold 2,984 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the transaction, the director directly owned 92,898 shares of the company’s stock, valued at $2,360,538.18. This trade represents a 3.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 702,448 shares of company stock valued at $16,555,338. 36.70% of the stock is owned by insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flight Deck Capital LP purchased a new stake in shares of Aeva Technologies during the 3rd quarter worth approximately $7,084,000. Delta Global Management LP purchased a new position in shares of Aeva Technologies in the 3rd quarter valued at $18,139,000. Melqart Asset Management UK Ltd purchased a new position in shares of Aeva Technologies in the 3rd quarter valued at $5,471,000. Handelsbanken Fonder AB raised its stake in Aeva Technologies by 158.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after acquiring an additional 885,774 shares in the last quarter. Finally, BBR Partners LLC purchased a new stake in Aeva Technologies in the fourth quarter valued at $531,000. 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.