Aeva Technologies (NASDAQ:AEVA) Shares Up 11.9% – Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price was up 11.9% during mid-day trading on Monday . The stock traded as high as $15.21 and last traded at $15.19. Approximately 1,065,222 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,340,304 shares. The stock had previously closed at $13.57.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEVA. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Aeva Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.50.

Aeva Technologies Price Performance

The stock has a market cap of $978.08 million, a price-to-earnings ratio of -3.11 and a beta of 2.20. The company has a quick ratio of 4.12, a current ratio of 4.28 and a debt-to-equity ratio of 7.32. The company’s 50-day moving average is $14.60 and its 200-day moving average is $14.33.

Insider Activity

In related news, CEO Soroush Salehian Dardashti sold 41,083 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $617,888.32. Following the sale, the chief executive officer owned 1,725,329 shares of the company’s stock, valued at $25,948,948.16. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 5,643 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $84,870.72. Following the completion of the sale, the chief financial officer owned 590,034 shares in the company, valued at $8,874,111.36. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 106,194 shares of company stock worth $1,561,871. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AEVA. Quantbot Technologies LP grew its holdings in shares of Aeva Technologies by 122.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after purchasing an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Aeva Technologies during the 4th quarter valued at about $33,000. Jones Financial Companies Lllp boosted its position in Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after buying an additional 5,469 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Aeva Technologies in the fourth quarter valued at about $47,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Aeva Technologies during the third quarter worth about $57,000. 62.92% of the stock is owned by institutional investors.

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.