Aeva Technologies (NASDAQ:AEVA) Trading Up 9.3% – What’s Next?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price rose 9.3% during trading on Monday . The stock traded as high as $22.99 and last traded at $22.84. Approximately 319,808 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,416,685 shares. The stock had previously closed at $20.89.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Aeva Technologies presently has an average rating of “Hold” and an average price target of $25.33.

Aeva Technologies Stock Performance

The company’s 50 day moving average price is $20.99 and its 200-day moving average price is $16.83. The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The company has a market cap of $1.52 billion, a PE ratio of -4.83 and a beta of 2.41.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.12. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 693.94%.The business had revenue of $6.26 million for the quarter. Equities research analysts anticipate that Aeva Technologies, Inc. will post -2.25 earnings per share for the current fiscal year.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 350,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the completion of the transaction, the chief technology officer owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. This represents a 17.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Paul Zadesky sold 2,984 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the sale, the director owned 92,898 shares in the company, valued at $2,360,538.18. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 702,448 shares of company stock worth $16,555,338 over the last quarter. 36.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Aeva Technologies by 27.7% during the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after buying an additional 23,856 shares in the last quarter. Royal Bank of Canada grew its stake in Aeva Technologies by 51.7% in the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock valued at $375,000 after buying an additional 9,720 shares in the last quarter. Quantinno Capital Management LP grew its stake in Aeva Technologies by 15.4% in the 1st quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock valued at $318,000 after buying an additional 3,218 shares in the last quarter. Sona Asset Management US LLC bought a new stake in Aeva Technologies during the 1st quarter valued at $987,000. Finally, Siren L.L.C. purchased a new stake in shares of Aeva Technologies during the first quarter worth $1,448,000. Institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

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.