Aeva Technologies (NASDAQ:AEVA) Shares Up 6.6% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price shot up 6.6% during mid-day trading on Tuesday . The company traded as high as $18.69 and last traded at $18.46. 542,600 shares changed hands during trading, a decline of 56% from the average session volume of 1,223,778 shares. The stock had previously closed at $17.32.

Analysts Set New Price Targets

AEVA has been the subject of several recent research reports. Oppenheimer boosted their price target 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. Roth Capital increased their price target on Aeva Technologies from $6.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley boosted their price objective on Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, Canaccord Genuity Group raised their target price 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.33.

Aeva Technologies Price Performance

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.20 and a beta of 1.07. The stock has a 50 day simple moving average of $10.12 and a two-hundred day simple moving average of $6.22.

Insider Transactions at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 200,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $5.36, for a total value of $1,072,000.00. Following the completion of the transaction, the chief executive officer now owns 3,764,808 shares in the company, valued at approximately $20,179,370.88. This represents a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mina Rezk sold 70,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.79, for a total transaction of $195,300.00. Following the completion of the transaction, the chief technology officer now directly owns 8,696,669 shares in the company, valued at $24,263,706.51. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 4,213,506 shares of company stock valued at $24,985,345 and have sold 1,137,228 shares valued at $11,745,419. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in shares of Aeva Technologies by 2,490.3% during the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after purchasing an additional 623,889 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Aeva Technologies by 34.9% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock valued at $122,000 after acquiring an additional 6,640 shares during the period. Rhumbline Advisers grew its position in shares of Aeva Technologies by 13.2% during the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock worth $255,000 after acquiring an additional 6,238 shares during the last quarter. Deutsche Bank AG increased its stake in Aeva Technologies by 510.8% in the fourth quarter. Deutsche Bank AG now owns 45,039 shares of the company’s stock valued at $214,000 after purchasing an additional 37,665 shares during the period. Finally, Barclays PLC raised its stake in Aeva Technologies by 16.3% during the 4th quarter. Barclays PLC now owns 34,800 shares of the company’s stock valued at $166,000 after acquiring an additional 4,890 shares during the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.