Aeva Technologies (NASDAQ:AEVA) Shares Up 4.7% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 4.7% during trading on Wednesday . The company traded as high as $17.14 and last traded at $16.89. 704,595 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 671,522 shares. The stock had previously closed at $16.13.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEVA. Roth Capital increased their price target on shares of Aeva Technologies from $6.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Morgan Stanley increased their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Canaccord Genuity Group increased their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Oppenheimer raised their price objective on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

Aeva Technologies Stock Up 7.0%

The firm has a market cap of $949.70 million, a P/E ratio of -5.59 and a beta of 1.07. The company’s 50 day simple moving average is $9.12 and its 200-day simple moving average is $5.83.

Insiders Place Their Bets

In other news, Director Stephen Paul Zadesky sold 14,851 shares of the firm’s 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 of the company’s stock, valued at approximately $293,174. This trade represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mina Rezk sold 7,300 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $7.50, for a total transaction of $54,750.00. Following the transaction, the chief technology officer now directly owns 8,689,369 shares in the company, valued at approximately $65,170,267.50. The trade was a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 4,213,506 shares of company stock valued at $24,985,345 and sold 1,152,079 shares valued at $11,797,397. 27.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after buying an additional 5,469 shares during the period. PFG Investments LLC acquired a new stake in shares of Aeva Technologies during the fourth quarter worth $48,000. Intech Investment Management LLC acquired a new stake in shares of Aeva Technologies during the fourth quarter worth $52,000. Squarepoint Ops LLC acquired a new stake in shares of Aeva Technologies during the fourth quarter worth $54,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Aeva Technologies during the fourth quarter valued at $63,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.