Aeva Technologies (NASDAQ:AEVA) Stock Price Down 6.9% After Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA) shares were down 6.9% on Monday after an insider sold shares in the company. The company traded as low as $19.39 and last traded at $19.55. Approximately 185,371 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,411,695 shares. The stock had previously closed at $20.99.

Specifically, CFO Saurabh Sinha sold 20,620 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the completion of the sale, the chief financial officer directly owned 658,202 shares in the company, valued at $13,927,554.32. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 64,821 shares of Aeva Technologies stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $1,371,612.36. Following the completion of the transaction, the chief technology officer owned 1,537,527 shares in the company, valued at approximately $32,534,071.32. The trade was a 4.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, CEO Soroush Salehian Dardashti sold 64,821 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $1,371,612.36. Following the completion of the transaction, the chief executive officer owned 1,595,136 shares of the company’s stock, valued at approximately $33,753,077.76. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report 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 analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Aeva Technologies presently has an average rating of “Hold” and a consensus target price of $25.33.

Aeva Technologies Trading Down 7.5%

The business has a fifty day simple moving average of $22.65 and a 200-day simple moving average of $17.49. 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 firm has a market cap of $1.22 billion, a price-to-earnings ratio of -3.89 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million for the quarter. As a group, equities analysts forecast that Aeva Technologies, Inc. will post -2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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. The Manufacturers Life Insurance Company grew its holdings in Aeva Technologies by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock worth $433,000 after acquiring an additional 884 shares during the last quarter. Quantbot Technologies LP acquired a new position in Aeva Technologies in the 2nd quarter valued at approximately $36,000. Rockefeller Capital Management L.P. increased its position in Aeva Technologies by 19.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock valued at $95,000 after acquiring an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Aeva Technologies by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock valued at $266,000 after acquiring an additional 1,409 shares during the last quarter. Institutional investors own 62.92% of the company’s stock.

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.