Aeva Technologies (NASDAQ:AEVA) Reaches New 1-Year Low – What’s Next?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price hit a new 52-week low during trading on Thursday. The company traded as low as $8.42 and last traded at $8.83, with a volume of 567,659 shares traded. The stock had previously closed at $9.49.

Analyst Ratings Changes

A number of equities analysts have weighed in on AEVA shares. Wall Street Zen lowered Aeva Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Aeva Technologies in a research note on Thursday, August 6th. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. The Goldman Sachs Group started coverage on shares of Aeva Technologies in a research report on Monday, August 24th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aeva Technologies currently has an average rating of “Hold” and an average target price of $28.75.

Aeva Technologies Stock Performance

The stock has a fifty day moving average of $13.03 and a 200-day moving average of $16.69. The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52. The stock has a market capitalization of $693.44 million, a PE ratio of -4.00 and a beta of 2.56.

Insiders Place Their Bets

In other news, CTO Mina Rezk sold 100,000 shares of Aeva Technologies stock in a transaction on Monday, August 10th. The shares were sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the completion of the sale, the chief technology officer directly owned 1,606,669 shares of the company’s stock, valued at approximately $38,576,122.69. The trade was a 5.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Soroush Dardashti sold 219,486 shares of Aeva Technologies stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $24.03, for a total value of $5,274,248.58. Following the sale, the chief executive officer directly owned 1,251,322 shares of the company’s stock, valued at $30,069,267.66. This trade represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 579,680 shares of company stock worth $12,353,149 in the last 90 days. Corporate insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in Aeva Technologies by 15.6% in the third quarter. Russell Investments Group Ltd. now owns 13,067 shares of the company’s stock valued at $183,000 after acquiring an additional 1,765 shares during the last quarter. CenterBook Partners LP grew its holdings in shares of Aeva Technologies by 174.2% during the third quarter. CenterBook Partners LP now owns 481,383 shares of the company’s stock worth $6,759,000 after purchasing an additional 305,792 shares during the last quarter. Integrity Alliance LLC. purchased a new position in shares of Aeva Technologies during the third quarter worth about $205,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Aeva Technologies during the third quarter worth about $378,000. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of Aeva Technologies during the third quarter worth about $23,158,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company’s core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object’s location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.