Aeva Technologies (NYSE:AEVA) Sees Strong Trading Volume – Still a Buy?

Aeva Technologies, Inc. (NYSE:AEVA) saw strong trading volume on Monday . 1,710,952 shares were traded during mid-day trading, an increase of 180% from the previous session’s volume of 610,942 shares.The stock last traded at $16.18 and had previously closed at $18.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Oppenheimer upped their price objective on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Roth Capital lifted their price target on Aeva Technologies from $6.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group upped their price objective on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Aeva Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.33.

Aeva Technologies Price Performance

The stock has a 50-day simple moving average of $7.86 and a 200-day simple moving average of $5.43. The stock has a market cap of $822.95 million, a PE ratio of -4.84 and a beta of 1.07.

Insider Activity

In other news, CTO Mina Rezk sold 7,300 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $7.50, for a total value of $54,750.00. Following the completion of the transaction, the chief technology officer now directly owns 8,689,369 shares in the company, valued at approximately $65,170,267.50. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc purchased 990,411 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the acquisition, the insider now owns 11,369,715 shares in the company, valued at approximately $49,571,957.40. This represents a 9.54% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 4,213,506 shares of company stock valued at $24,985,345 and have sold 1,152,079 shares valued at $11,797,397. Corporate insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

Large investors have recently modified their holdings of the business. Barclays PLC grew its stake in Aeva Technologies by 276.4% during the 3rd quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after purchasing an additional 21,964 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Aeva Technologies in the fourth quarter worth $48,000. Rhumbline Advisers raised its holdings in Aeva Technologies by 13.2% in the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after acquiring an additional 6,238 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Aeva Technologies during the 4th quarter valued at $88,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 30,924 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.