Adage Capital Partners GP L.L.C. Reduces Stock Holdings in Aeva Technologies, Inc. (NYSE:AEVA)

Adage Capital Partners GP L.L.C. cut its holdings in Aeva Technologies, Inc. (NYSE:AEVA) by 20.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,035,162 shares of the company’s stock after selling 781,590 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Aeva Technologies worth $14,417,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AEVA. PFG Investments LLC purchased a new stake in Aeva Technologies during the 4th quarter valued at about $48,000. Intech Investment Management LLC acquired a new position in Aeva Technologies in the 4th quarter worth approximately $52,000. Advisory Services Network LLC purchased a new position in Aeva Technologies during the 4th quarter worth approximately $78,000. SBI Securities Co. Ltd. purchased a new position in Aeva Technologies during the 4th quarter worth approximately $88,000. Finally, Marshall Wace LLP acquired a new stake in Aeva Technologies during the 4th quarter valued at approximately $88,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AEVA shares. Oppenheimer increased their price objective on shares of Aeva Technologies from $6.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Canaccord Genuity Group initiated coverage on Aeva Technologies in a research report on Tuesday, April 1st. They set a “buy” rating and a $9.50 price target on the stock. Finally, Morgan Stanley boosted their price objective on Aeva Technologies from $4.87 to $5.22 and gave the company an “equal weight” rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.14.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 125,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $6.34, for a total transaction of $792,500.00. Following the transaction, the chief technology officer now owns 8,421,669 shares in the company, valued at $53,393,381.46. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,764,808 shares of the company’s stock, valued at approximately $20,179,370.88. The trade was a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 4,213,506 shares of company stock valued at $24,985,345 and have sold 527,079 shares valued at $3,000,979. Corporate insiders own 29.10% of the company’s stock.

Aeva Technologies Stock Performance

AEVA stock opened at $7.32 on Monday. Aeva Technologies, Inc. has a one year low of $2.20 and a one year high of $8.12. The firm’s fifty day moving average is $5.19 and its 200 day moving average is $4.57. The firm has a market cap of $400.51 million, a PE ratio of -2.37 and a beta of 1.03.

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.