Aeva Technologies (NASDAQ:AEVA) Trading Down 11% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) fell 11% during mid-day trading on Monday . The company traded as low as $22.91 and last traded at $23.69. Approximately 477,687 shares traded hands during trading, a decline of 80% from the average daily volume of 2,335,801 shares. The stock had previously closed at $26.62.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AEVA. Oppenheimer restated an “outperform” rating and issued a $42.00 target price on shares of Aeva Technologies in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeva Technologies in a research report on Friday. Wall Street Zen downgraded shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday. Morgan Stanley boosted their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity Group upped their price objective on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.67.

Aeva Technologies Trading Up 1.6%

The business has a 50 day simple moving average of $21.42 and a 200 day simple moving average of $17.83. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -8.81 and a beta of 2.47.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $5,536,824.93. Following the completion of the transaction, the chief executive officer directly owned 1,659,957 shares of the company’s stock, valued at approximately $40,785,143.49. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 20,620 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 658,202 shares in the company, valued at $13,927,554.32. The trade was a 3.04% 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 817,245 shares of company stock worth $19,342,658 in the last 90 days. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AEVA. AQR Capital Management LLC increased its stake in shares of Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after buying an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Aeva Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after acquiring an additional 630 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after acquiring an additional 5,469 shares during the period. Prudential Financial Inc. acquired a new position in shares of Aeva Technologies during the second quarter valued at $446,000. Finally, Russell Investments Group Ltd. bought a new position in Aeva Technologies in the second quarter valued at about $1,239,000. 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.