Aeva Technologies (NYSE:AEVA) Trading Down 7.8% After Insider Selling

Aeva Technologies, Inc. (NYSE:AEVA)’s share price fell 7.8% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $13.74 and last traded at $14.36. 873,118 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 627,675 shares. The stock had previously closed at $15.58.

Specifically, CTO Mina Rezk sold 250,000 shares of Aeva Technologies stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.70, for a total transaction of $3,925,000.00. Following the completion of the sale, the chief technology officer now directly owns 8,046,669 shares of the company’s stock, valued at $126,332,703.30. The trade was a 3.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Soroush Salehian Dardashti sold 250,000 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,514,808 shares of the company’s stock, valued at $55,182,485.60. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Oppenheimer boosted their target price on Aeva Technologies from $9.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Canaccord Genuity Group boosted their price target on Aeva Technologies from $9.50 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Roth Capital boosted their price target on Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Morgan Stanley boosted their price target on Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Aeva Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $12.33.

Aeva Technologies Stock Performance

The firm has a market capitalization of $803.75 million, a price-to-earnings ratio of -4.69 and a beta of 1.07. The business has a fifty day moving average price of $7.61 and a 200 day moving average price of $5.36.

Institutional Investors Weigh In On Aeva Technologies

Several institutional investors have recently bought and sold shares of AEVA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Aeva Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after purchasing an additional 630 shares during the period. AQR Capital Management LLC increased its holdings in shares of Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after acquiring an additional 4,707 shares during the period. Barclays PLC grew its position in Aeva Technologies by 16.3% in the 4th quarter. Barclays PLC now owns 34,800 shares of the company’s stock valued at $166,000 after buying an additional 4,890 shares in the last quarter. Jones Financial Companies Lllp grew its position in Aeva Technologies by 27,345.0% in the 1st 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. Finally, Rhumbline Advisers boosted its position in shares of Aeva Technologies by 13.2% during the 4th quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after purchasing an additional 6,238 shares in the last quarter. 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.