Aeva Technologies (NASDAQ:AEVA) Trading Down 6% – What’s Next?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares fell 6% during trading on Monday . The company traded as low as $9.38 and last traded at $9.39. 473,539 shares were traded during trading, a decline of 76% from the average session volume of 1,954,213 shares. The stock had previously closed at $9.99.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeva Technologies in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $24.50.

Aeva Technologies Price Performance

The stock’s 50 day moving average price is $15.69 and its two-hundred day moving average price is $18.39. The firm has a market capitalization of $544.93 million, a price-to-earnings ratio of -1.70 and a beta of 2.04.

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

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was 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 directly owned 1,884,808 shares of the company’s stock, valued at approximately $25,350,667.60. This represents a 11.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Saurabh Sinha sold 5,454 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $13.64, for a total transaction of $74,392.56. Following the completion of the sale, the chief financial officer owned 768,598 shares in the company, valued at approximately $10,483,676.72. The trade was a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 608,282 shares of company stock worth $8,207,832 in the last 90 days. 27.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in Aeva Technologies by 81.5% during the first quarter. American Century Companies Inc. now owns 46,623 shares of the company’s stock worth $326,000 after buying an additional 20,934 shares in the last quarter. Titan Global Capital Management USA LLC acquired a new position in Aeva Technologies in the 2nd quarter valued at approximately $2,500,000. Informed Momentum Co LLC bought a new stake in shares of Aeva Technologies in the 1st quarter worth approximately $781,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $1,125,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Aeva Technologies during the second quarter valued at approximately $7,960,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

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.