Aeva Technologies (NASDAQ:AEVA) Trading Down 9.9% – Should You Sell?

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.33.

Aeva Technologies Stock Down 11.9%

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 business has a 50 day simple moving average of $21.71 and a 200 day simple moving average of $17.07. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -4.91 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.12. The firm had revenue of $6.26 million during the quarter. As a group, equities analysts predict that Aeva Technologies, Inc. will post -2.25 earnings per share for the current fiscal year.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 350,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the sale, the chief technology officer owned 1,706,669 shares of the company’s stock, valued at approximately $41,932,857.33. This represents a 17.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Saurabh Sinha sold 5,643 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $84,870.72. Following the completion of the transaction, the chief financial officer directly owned 590,034 shares of the company’s stock, valued at approximately $8,874,111.36. The trade was a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 702,448 shares of company stock valued at $16,555,338. Insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently added to or reduced their stakes in AEVA. Duquesne Family Office LLC purchased a new position in Aeva Technologies in the 3rd quarter valued at approximately $26,670,000. Millennium Management LLC purchased a new stake in shares of Aeva Technologies during the third quarter worth $25,751,000. Delta Global Management LP increased its position in shares of Aeva Technologies by 29.7% during the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock worth $21,555,000 after acquiring an additional 372,159 shares during the period. Vanguard Group Inc. increased its position in shares of Aeva Technologies by 12.5% during the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after acquiring an additional 175,482 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after acquiring an additional 885,774 shares in the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

About Aeva Technologies

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.