Aeva Technologies, Inc. (NASDAQ:AEVA) Given Average Recommendation of “Hold” by Analysts

Aeva Technologies, Inc. (NASDAQ:AEVA) has received a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $26.50.

Several analysts have commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th.

Aeva Technologies Stock Performance

Shares of Aeva Technologies stock opened at $15.55 on Tuesday. The company has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $14.70. The stock has a market capitalization of $934.24 million, a PE ratio of -3.07 and a beta of 2.09. Aeva Technologies has a 52-week low of $2.64 and a 52-week high of $38.80.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.06. The firm had revenue of $5.62 million for the quarter, compared to analysts’ expectations of $3.69 million. Aeva Technologies had a negative net margin of 804.40% and a negative return on equity of 603.21%. As a group, equities research analysts forecast that Aeva Technologies will post -2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 488,160 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $12.96, for a total transaction of $6,326,553.60. Following the transaction, the chief executive officer owned 1,831,199 shares in the company, valued at approximately $23,732,339.04. This represents a 21.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the sale, the chief financial officer directly owned 627,756 shares in the company, valued at approximately $12,956,883.84. The trade was a 8.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,064,292 shares of company stock valued at $15,170,040. 27.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Aeva Technologies during the 2nd quarter valued at $36,000. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies in the second quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Aeva Technologies during the fourth quarter valued at $33,000. Daiwa Securities Group Inc. bought a new position in Aeva Technologies in the second quarter valued at about $100,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Aeva Technologies by 91.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,129 shares of the company’s stock valued at $118,000 after acquiring an additional 1,496 shares during the period. 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.