Freedom Investment Management Inc. Sells 27,539 Shares of Aeva Technologies, Inc. $AEVA

Freedom Investment Management Inc. cut its holdings in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) by 24.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,546 shares of the company’s stock after selling 27,539 shares during the period. Freedom Investment Management Inc. owned approximately 0.16% of Aeva Technologies worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Aeva Technologies by 92.2% in the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares in the last quarter. Jones Financial Companies Lllp increased its position in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after buying an additional 5,469 shares during the last quarter. Perennial Advisors LLC acquired a new position in Aeva Technologies during the second quarter worth approximately $227,000. Vanguard Personalized Indexing Management LLC acquired a new position in Aeva Technologies during the second quarter worth approximately $335,000. Finally, Inspire Investing LLC acquired a new position in shares of Aeva Technologies in the second quarter valued at approximately $386,000. 62.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Aeva Technologies Trading Down 3.9%

Shares of Aeva Technologies stock opened at $16.45 on Thursday. The business has a 50-day moving average price of $15.64 and a two-hundred day moving average price of $17.30. Aeva Technologies, Inc. has a 1-year low of $2.52 and a 1-year high of $38.80. The company has a market cap of $926.60 million, a P/E ratio of -2.99 and a beta of 2.02.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.The business had revenue of $5.51 million for the quarter, compared to analyst estimates of $3.40 million. Equities research analysts forecast that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Mina Rezk sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the sale, the chief technology officer directly owned 3,236,669 shares in the company, valued at $43,630,298.12. This trade represents a 7.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total value of $2,690,000.00. Following the completion of the sale, the chief executive officer owned 2,134,808 shares of the company’s stock, valued at approximately $28,713,167.60. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 646,658 shares of company stock worth $8,698,680. Company insiders own 27.20% of the company’s stock.

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.