Aeva Technologies (NASDAQ:AEVA) Trading Up 6.6% – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 6.6% during trading on Friday . The company traded as high as $17.89 and last traded at $17.54. 363,545 shares traded hands during trading, a decline of 84% from the average session volume of 2,316,814 shares. The stock had previously closed at $16.46.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Aeva Technologies currently has an average rating of “Hold” and an average price target of $21.50.

Aeva Technologies Stock Up 5.8%

The company’s 50-day moving average is $22.26 and its 200 day moving average is $17.69. The stock has a market capitalization of $1.10 billion, a PE ratio of -3.49 and a beta of 2.40. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.12. The company had revenue of $6.26 million for the quarter. As a group, analysts anticipate that Aeva Technologies, Inc. will post -2.26 EPS for the current year.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 10,304 shares of Aeva Technologies stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $15.40, for a total transaction of $158,681.60. Following the completion of the sale, the chief executive officer owned 1,584,832 shares of the company’s stock, valued at approximately $24,406,412.80. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 10,304 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $15.40, for a total value of $158,681.60. Following the sale, the chief technology officer owned 1,527,223 shares in the company, valued at approximately $23,519,234.20. The trade was a 0.67% 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. Insiders sold 891,360 shares of company stock valued at $20,457,348 over the last three months. 36.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Aeva Technologies by 29.2% in the first quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock valued at $146,000 after buying an additional 4,707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $96,000 after acquiring an additional 630 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Aeva Technologies by 27,345.0% in 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. acquired a new stake in shares of Aeva Technologies in the second quarter worth $446,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Aeva Technologies in the second quarter worth $1,239,000. Institutional investors and hedge funds 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.