Delta Global Management LP Buys 372,159 Shares of Aeva Technologies, Inc. $AEVA

Delta Global Management LP increased its stake in Aeva Technologies, Inc. (NASDAQ:AEVA) by 29.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,623,148 shares of the company’s stock after purchasing an additional 372,159 shares during the quarter. Aeva Technologies comprises 1.0% of Delta Global Management LP’s investment portfolio, making the stock its 22nd largest holding. Delta Global Management LP’s holdings in Aeva Technologies were worth $21,555,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Aeva Technologies during the 4th quarter valued at $799,000. Verition Fund Management LLC increased its stake in Aeva Technologies by 23.3% during the 4th quarter. Verition Fund Management LLC now owns 225,881 shares of the company’s stock valued at $3,000,000 after purchasing an additional 42,748 shares in the last quarter. Entropy Technologies LP bought a new stake in Aeva Technologies during the 4th quarter valued at $166,000. Barclays PLC increased its stake in Aeva Technologies by 34.3% during the 4th quarter. Barclays PLC now owns 58,852 shares of the company’s stock valued at $782,000 after purchasing an additional 15,021 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Aeva Technologies during the 4th quarter valued at $228,000. Institutional investors own 62.92% of the company’s stock.

Insider Buying and Selling at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 41,083 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the sale, the chief executive officer owned 1,725,329 shares in the company, valued at $25,948,948.16. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $411,930.56. Following the completion of the sale, the chief technology officer owned 1,442,371 shares of the company’s stock, valued at approximately $21,693,259.84. The trade was a 1.86% decrease in their position. 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. In the last 90 days, insiders sold 74,115 shares of company stock worth $1,114,690. 36.70% of the stock is owned by corporate insiders.

Aeva Technologies Stock Performance

Shares of AEVA stock opened at $26.87 on Tuesday. The firm has a market capitalization of $1.69 billion, a PE ratio of -5.38 and a beta of 2.41. The firm has a fifty day simple moving average of $19.28 and a two-hundred day simple moving average of $16.17. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. Aeva Technologies, Inc. has a 12 month low of $8.83 and a 12 month high of $38.80.

Wall Street Analyst Weigh In

A number of analysts have commented on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Aeva Technologies currently has an average rating of “Hold” and an average target price of $26.50.

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.