Insider Selling: Aeva Technologies (NASDAQ:AEVA) CFO Sells 60,000 Shares of Stock

Aeva Technologies, Inc. (NASDAQ:AEVA) CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the sale, the chief financial officer owned 627,756 shares of the company’s stock, valued at approximately $12,956,883.84. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Saurabh Sinha also recently made the following trade(s):

• On Friday, January 9th, Saurabh Sinha sold 20,609 shares of Aeva Technologies stock. The shares were sold at an average price of $18.85, for a total value of $388,479.65.
• On Friday, January 2nd, Saurabh Sinha sold 12,147 shares of Aeva Technologies stock. The shares were sold at an average price of $12.96, for a total transaction of $157,425.12.
• On Wednesday, November 19th, Saurabh Sinha sold 48,086 shares of Aeva Technologies stock. The shares were sold at an average price of $9.97, for a total transaction of $479,417.42.
• On Wednesday, November 5th, Saurabh Sinha sold 5,454 shares of Aeva Technologies stock. The stock was sold at an average price of $13.64, for a total transaction of $74,392.56.

Aeva Technologies Stock Performance

Shares of NASDAQ:AEVA traded down $0.87 during midday trading on Thursday, hitting $19.82. 6,655,210 shares of the stock were exchanged, compared to its average volume of 3,455,868. Aeva Technologies, Inc. has a 12 month low of $2.52 and a 12 month high of $38.80. The business’s 50-day moving average price is $13.66 and its 200 day moving average price is $16.83. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -3.73 and a beta of 2.08.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. The company had revenue of $3.58 million during the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. As a group, sell-side analysts expect that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Titan Global Capital Management USA LLC bought a new stake in Aeva Technologies during the 2nd quarter valued at $2,500,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Aeva Technologies in the second quarter worth approximately $1,125,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Aeva Technologies in the second quarter worth about $7,960,000. Employees Retirement System of Texas bought a new stake in Aeva Technologies during the 2nd quarter valued at approximately $2,859,000. Finally, Geode Capital Management LLC grew its holdings in shares of Aeva Technologies by 28.7% during the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock worth $30,548,000 after acquiring an additional 180,269 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEVA. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price target on shares of Aeva Technologies in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.