Aeva Technologies (NASDAQ:AEVA) Trading Up 10.6% – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price traded up 10.6% during mid-day trading on Tuesday . The stock traded as high as $17.75 and last traded at $17.59. 504,487 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,371,202 shares. The stock had previously closed at $15.90.

Analyst Ratings Changes

A number of brokerages have recently commented on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.50.

Aeva Technologies Trading Down 5.3%

The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The firm has a market cap of $1.06 billion, a PE ratio of -3.36 and a beta of 2.40. The company’s 50-day moving average is $22.88 and its 200 day moving average is $17.73.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million during the quarter. As a group, sell-side analysts predict that Aeva Technologies, Inc. will post -2.26 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Soroush Salehian Dardashti sold 64,821 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $1,371,612.36. Following the transaction, the chief executive officer directly owned 1,595,136 shares of the company’s stock, valued at approximately $33,753,077.76. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephen Paul Zadesky sold 2,984 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the sale, the director directly owned 92,898 shares of the company’s stock, valued at approximately $2,360,538.18. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 863,922 shares of company stock worth $20,034,803. 36.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew 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 increased its stake in Aeva Technologies by 51.7% in the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock valued at $375,000 after buying an additional 9,720 shares during the period. Quantinno Capital Management LP lifted its position in Aeva Technologies by 15.4% in the 1st quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock worth $318,000 after buying an additional 3,218 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in shares of Aeva Technologies during the 1st quarter valued at $987,000. Finally, Siren L.L.C. acquired a new stake in shares of Aeva Technologies during the 1st quarter valued at $1,448,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.