Aeva Technologies (NASDAQ:AEVA) Stock Price Up 9.6% – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares shot up 9.6% during trading on Wednesday . The company traded as high as $20.94 and last traded at $20.83. 588,895 shares traded hands during trading, a decline of 75% from the average session volume of 2,387,605 shares. The stock had previously closed at $19.00.

Analyst Ratings Changes

A number of research firms have commented on AEVA. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.17 and a beta of 2.20. The stock has a fifty day moving average price of $15.31 and a two-hundred day moving average price of $14.42. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32.

Insider Transactions at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 41,083 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the transaction, the chief executive officer directly owned 1,725,329 shares of the company’s stock, valued at $25,948,948.16. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $411,930.56. Following the completion of the transaction, the chief technology officer directly owned 1,442,371 shares of the company’s stock, valued at approximately $21,693,259.84. This trade represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 106,194 shares of company stock valued at $1,561,871 over the last three months. 36.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors have recently added to or reduced their stakes in the business. Flight Deck Capital LP acquired a new position in Aeva Technologies in the third quarter valued at $7,084,000. Delta Global Management LP acquired a new position in Aeva Technologies in the third quarter valued at $18,139,000. Handelsbanken Fonder AB increased its stake in Aeva Technologies by 3,299.6% in the third quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock valued at $8,115,000 after purchasing an additional 543,173 shares during the last quarter. Melqart Asset Management UK Ltd acquired a new position in Aeva Technologies in the third quarter valued at $5,471,000. Finally, Essex Investment Management Co. LLC acquired a new position in Aeva Technologies in the third quarter valued at $610,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.