Aeva Technologies (NASDAQ:AEVA) Shares Down 9.9% on Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA) shares traded down 9.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $24.78 and last traded at $25.06. 1,072,896 shares traded hands during trading, a decline of 56% from the average session volume of 2,457,834 shares. The stock had previously closed at $27.80.

Specifically, CFO Saurabh Sinha sold 11,212 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $26.75, for a total value of $299,921.00. Following the completion of the transaction, the chief financial officer owned 678,822 shares of the company’s stock, valued at $18,158,488.50. This trade represents a 1.62% decrease in their position. The sale was disclosed in a filing 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.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note 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. Two 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.33.

Aeva Technologies Stock Performance

The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.81 and a beta of 2.40. 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 has a 50 day simple moving average of $22.01 and a two-hundred day simple moving average of $17.18.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. As a group, analysts anticipate that Aeva Technologies, Inc. will post -2.25 earnings per share for the current year.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Aeva Technologies in the second quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies during the fourth quarter worth approximately $33,000. Daiwa Securities Group Inc. purchased a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $100,000. Caitong International Asset Management Co. Ltd purchased a new stake in Aeva Technologies in the fourth quarter valued at $47,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Aeva Technologies by 127.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock valued at $163,000 after purchasing an additional 2,419 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.