Aeva Technologies (NASDAQ:AEVA) Stock Price Down 15.6% Following Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price traded down 15.6% during mid-day trading on Thursday following insider selling activity. The company traded as low as $11.51 and last traded at $11.63. 1,690,451 shares were traded during trading, a decline of 12% from the average session volume of 1,931,344 shares. The stock had previously closed at $13.78.

Specifically, CTO Mina Rezk sold 26,468 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $13.64, for a total value of $361,023.52. Following the transaction, the chief technology officer owned 1,705,668 shares of the company’s stock, valued at approximately $23,265,311.52. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Saurabh Sinha sold 5,454 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $13.64, for a total transaction of $74,392.56. Following the transaction, the chief financial officer directly owned 768,598 shares of the company’s stock, valued at approximately $10,483,676.72. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, CEO Soroush Salehian Dardashti sold 39,702 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $13.64, for a total value of $541,535.28. Following the sale, the chief executive officer directly owned 2,093,455 shares in the company, valued at $28,554,726.20. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aeva Technologies in a report on Wednesday, October 8th. Wall Street Zen upgraded Aeva Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Oppenheimer lifted their price target on shares of Aeva Technologies from $18.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley raised their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Aeva Technologies Stock Down 13.3%

The stock’s 50-day simple moving average is $16.05 and its 200 day simple moving average is $18.07. The firm has a market cap of $673.14 million, a P/E ratio of -2.17 and a beta of 2.04.

Aeva Technologies (NASDAQ:AEVA) last issued its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter. The firm had revenue of $3.58 million during the quarter. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. On average, research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Institutional Trading of Aeva Technologies

A number of institutional investors have recently modified their holdings of AEVA. GAMMA Investing LLC boosted its holdings in Aeva Technologies by 92.2% in the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after acquiring an additional 415 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after purchasing an additional 630 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Aeva Technologies by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,731 shares of the company’s stock worth $670,000 after purchasing an additional 808 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Aeva Technologies by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after acquiring an additional 884 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Aeva Technologies during the 2nd quarter valued at $36,000. 62.92% of the stock is currently 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.