Aeva Technologies (NASDAQ:AEVA) Shares Up 6.5% – Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) shot up 6.5% during trading on Wednesday . The stock traded as high as $24.07 and last traded at $23.60. 434,293 shares were traded during trading, a decline of 82% from the average session volume of 2,449,133 shares. The stock had previously closed at $22.17.

Analysts Set New Price Targets

Several research firms have recently commented on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aeva Technologies currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Price Performance

The company has a 50 day moving average price of $18.35 and a 200 day moving average price of $15.77. The firm has a market cap of $1.43 billion, a PE ratio of -4.56 and a beta of 2.41. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89.

Insider Activity

In other news, CEO Soroush Salehian Dardashti sold 41,083 shares of Aeva Technologies stock in a transaction dated 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 of the company’s stock, valued at $25,948,948.16. The trade was a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the sale, the chief technology officer owned 1,442,371 shares in the company, valued at approximately $21,693,259.84. The trade was a 1.86% decrease in their ownership of the stock. 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. Insiders have sold 74,115 shares of company stock valued at $1,114,690 in the last three months. Corporate insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP increased 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 valued at $30,000 after acquiring an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Aeva Technologies in the fourth quarter valued at $33,000. Jones Financial Companies Lllp lifted its holdings in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Aeva Technologies in the 4th quarter worth about $47,000. Finally, Daiwa Securities Group Inc. boosted its position in Aeva Technologies by 79.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after purchasing an additional 1,922 shares during the last quarter. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.