Aeva Technologies (NASDAQ:AEVA) Stock Jumps 11% – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price traded up 11% on Friday. The company traded as high as $10.47 and last traded at $10.2040. 648,685 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 2,123,594 shares. The stock had previously closed at $9.19.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AEVA shares. The Goldman Sachs Group started coverage on shares of Aeva Technologies in a report on Monday, August 24th. They set a “neutral” rating and a $20.00 price objective for the company. Canaccord Genuity Group lifted their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. 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. Finally, Wall Street Zen lowered shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.75.

Aeva Technologies Stock Up 12.2%

The stock’s fifty day moving average is $13.13 and its 200 day moving average is $16.73. The company has a current ratio of 7.85, a quick ratio of 7.63 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $650.02 million, a P/E ratio of -3.81 and a beta of 2.56.

Insiders Place Their Bets

In other news, CEO Soroush Dardashti sold 30,514 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $24.32, for a total transaction of $742,100.48. Following the completion of the sale, the chief executive officer directly owned 1,220,808 shares in the company, valued at approximately $29,690,050.56. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 34,146 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $14.83, for a total transaction of $506,385.18. Following the sale, the chief financial officer owned 547,226 shares of the company’s stock, valued at approximately $8,115,361.58. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 509,245 shares of company stock valued at $11,731,912 in the last quarter. Insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

A number of large investors have recently made changes to their positions in AEVA. Bank of New York Mellon Corp purchased a new position in shares of Aeva Technologies during the second quarter valued at approximately $2,382,000. Titan Global Capital Management USA LLC lifted its stake in Aeva Technologies by 95.1% in the first quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company’s stock worth $2,102,000 after acquiring an additional 77,856 shares during the period. Brooklands Fund Management Ltd purchased a new stake in Aeva Technologies in the third quarter worth $23,158,000. Sona Asset Management US LLC purchased a new stake in Aeva Technologies in the first quarter worth $987,000. Finally, Siren L.L.C. bought a new stake in Aeva Technologies in the first quarter valued at $1,448,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company’s core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object’s location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.