Aeva Technologies (NASDAQ:AEVA) Stock Price Down 7.8% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) dropped 7.8% on Tuesday . The stock traded as low as $17.75 and last traded at $17.93. Approximately 235,209 shares changed hands during trading, a decline of 90% from the average daily volume of 2,389,886 shares. The stock had previously closed at $19.45.

Wall Street Analysts Forecast Growth

AEVA has been the topic of several analyst reports. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Trading Down 2.3%

The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. The stock’s fifty day moving average price is $15.21 and its 200 day moving average price is $14.41. The stock has a market capitalization of $1.20 billion, a P/E ratio of -3.81 and a beta of 2.20.

Insider Transactions at Aeva Technologies

In other news, CFO Saurabh Sinha sold 32,079 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer owned 595,677 shares of the company’s stock, valued at approximately $8,303,737.38. This represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Soroush Salehian Dardashti sold 41,083 shares of the 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 transaction, the chief executive officer directly owned 1,725,329 shares in the company, valued at $25,948,948.16. The trade was a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 106,194 shares of company stock valued at $1,561,871. 36.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in Aeva Technologies by 27.7% during the first quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after purchasing an additional 23,856 shares in the last quarter. Royal Bank of Canada boosted its position in Aeva Technologies by 51.7% during the first quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock valued at $375,000 after purchasing an additional 9,720 shares in the last quarter. Quantinno Capital Management LP boosted its position in Aeva Technologies by 15.4% during the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock valued at $318,000 after purchasing an additional 3,218 shares in the last quarter. Sona Asset Management US LLC purchased a new stake in Aeva Technologies in the first quarter valued at about $987,000. Finally, Siren L.L.C. purchased a new stake in Aeva Technologies in the first quarter valued at about $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.