Aeva Technologies, Inc. (NYSE:AEVA) Receives Average Rating of “Moderate Buy” from Analysts

Aeva Technologies, Inc. (NYSE:AEVA) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $5.81.

Several research firms have commented on AEVA. Oppenheimer lifted their target price on shares of Aeva Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, March 20th. Morgan Stanley lifted their price objective on Aeva Technologies from $4.87 to $5.22 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Finally, Canaccord Genuity Group initiated coverage on Aeva Technologies in a research report on Tuesday. They set a “buy” rating and a $9.50 target price on the stock.

Aeva Technologies Price Performance

Shares of NYSE AEVA opened at $7.00 on Tuesday. The company has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $4.02. The company has a market cap of $383.00 million, a PE ratio of -2.27 and a beta of 1.41. Aeva Technologies has a 12 month low of $2.20 and a 12 month high of $7.19.

Insider Activity

In related news, CTO Mina Rezk sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $2.79, for a total value of $195,300.00. Following the transaction, the chief technology officer now owns 8,696,669 shares in the company, valued at approximately $24,263,706.51. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Paul Zadesky sold 14,851 shares of Aeva Technologies stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the transaction, the director now directly owns 83,764 shares in the company, valued at approximately $293,174. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,213,506 shares of company stock valued at $24,985,345 and sold 284,851 shares valued at $1,319,279. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Hedge funds have recently made changes to their positions in the business. Parkwood LLC increased its holdings in Aeva Technologies by 415.7% in the 4th quarter. Parkwood LLC now owns 1,426,627 shares of the company’s stock valued at $6,776,000 after purchasing an additional 1,150,000 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Aeva Technologies by 2,490.3% in the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after buying an additional 623,889 shares during the period. Geode Capital Management LLC boosted its position in shares of Aeva Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock worth $2,951,000 after buying an additional 9,318 shares during the period. State Street Corp grew its stake in shares of Aeva Technologies by 5.5% in the third quarter. State Street Corp now owns 452,309 shares of the company’s stock valued at $1,488,000 after buying an additional 23,593 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Aeva Technologies by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after buying an additional 30,924 shares during the period. Hedge funds and other institutional investors 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.