Craig Hallum Forecasts Strong Price Appreciation for Aeva Technologies (NYSE:AEVA) Stock

Aeva Technologies (NYSE:AEVA) had its target price lifted by analysts at Craig Hallum from $5.00 to $6.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 42.86% from the stock’s current price.

A number of other brokerages have also recently commented on AEVA. Roth Mkm boosted their price target on Aeva Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday. Westpark Capital reissued a “hold” rating on shares of Aeva Technologies in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Aeva Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $10.53.

Aeva Technologies Stock Down 2.6 %

Shares of AEVA stock traded down $0.11 during mid-day trading on Thursday, reaching $4.20. 426,967 shares of the company’s stock traded hands, compared to its average volume of 295,730. The company’s 50-day moving average price is $3.38 and its 200-day moving average price is $3.17. The company has a market cap of $225.32 million, a P/E ratio of -1.34 and a beta of 1.37. Aeva Technologies has a 12 month low of $2.20 and a 12 month high of $7.25.

Aeva Technologies (NYSE:AEVA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.03. Aeva Technologies had a negative net margin of 2,399.43% and a negative return on equity of 66.27%. The business had revenue of $2.01 million for the quarter, compared to analyst estimates of $1.58 million. Equities analysts predict that Aeva Technologies will post -2.75 earnings per share for the current year.

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 49,678 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $2.55, for a total value of $126,678.90. Following the completion of the transaction, the chief executive officer now owns 4,204,808 shares in the company, valued at $10,722,260.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC raised its stake in Aeva Technologies by 82.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,083 shares of the company’s stock valued at $68,000 after buying an additional 12,227 shares during the last quarter. Sei Investments Co. purchased a new stake in Aeva Technologies during the second quarter valued at $39,000. Dimensional Fund Advisors LP purchased a new stake in Aeva Technologies during the second quarter valued at $118,000. American Century Companies Inc. purchased a new position in Aeva Technologies in the second quarter worth about $38,000. Finally, Bank of New York Mellon Corp boosted its position in Aeva Technologies by 40.3% in the second quarter. Bank of New York Mellon Corp now owns 76,107 shares of the company’s stock worth $192,000 after purchasing an additional 21,865 shares during the last quarter. 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.