Aeva Technologies (NASDAQ:AEVA) Trading 7.9% Higher – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price was up 7.9% on Thursday . The company traded as high as $16.86 and last traded at $16.66. Approximately 1,115,907 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,976,565 shares. The stock had previously closed at $15.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a research report on Thursday, December 4th. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeva Technologies in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aeva Technologies currently has a consensus rating of “Hold” and an average target price of $26.50.

Aeva Technologies Price Performance

The stock has a market capitalization of $961.88 million, a price-to-earnings ratio of -3.01 and a beta of 2.16. The stock has a 50 day moving average price of $14.21 and a 200-day moving average price of $18.23.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. The firm had revenue of $3.58 million during the quarter. As a group, research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Buying and Selling

In other Aeva Technologies news, CFO Saurabh Sinha sold 48,086 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $9.97, for a total value of $479,417.42. Following the transaction, the chief financial officer directly owned 720,512 shares of the company’s stock, valued at $7,183,504.64. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $13.45, for a total value of $3,362,500.00. Following the completion of the sale, the chief executive officer owned 1,884,808 shares of the company’s stock, valued at $25,350,667.60. This trade represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 619,710 shares of company stock worth $8,181,369. 27.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors have recently added to or reduced their stakes in AEVA. Titan Global Capital Management USA LLC acquired a new position in Aeva Technologies in the second quarter valued at approximately $2,500,000. American Century Companies Inc. raised its position in Aeva Technologies by 81.5% in the first quarter. American Century Companies Inc. now owns 46,623 shares of the company’s stock valued at $326,000 after purchasing an additional 20,934 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Aeva Technologies in the 2nd quarter valued at $1,125,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Aeva Technologies during the 2nd quarter worth $7,960,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth about $2,859,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.