Aeva Technologies (NASDAQ:AEVA) Shares Down 9.4% on Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price was down 9.4% on Wednesday following insider selling activity. The stock traded as low as $20.80 and last traded at $21.32. Approximately 300,026 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,413,246 shares. The stock had previously closed at $23.54.

Specifically, Director Stephen Paul Zadesky sold 2,984 shares of Aeva Technologies stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.41, for a total transaction of $75,823.44. Following the transaction, the director directly owned 92,898 shares of the company’s stock, valued at approximately $2,360,538.18. The trade was a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Aeva Technologies currently has a consensus rating of “Hold” and an average target price of $25.33.

Aeva Technologies Trading Down 11.4%

The firm has a 50-day simple moving average of $20.62 and a 200-day simple moving average of $16.72. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The stock has a market cap of $1.32 billion, a PE ratio of -4.18 and a beta of 2.41.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds have recently bought and sold shares of AEVA. AQR Capital Management LLC increased its holdings in shares of Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after purchasing an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after acquiring an additional 630 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after acquiring an additional 5,469 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Aeva Technologies during the second quarter worth about $446,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Aeva Technologies during the second quarter worth about $1,239,000. 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.