Aeva Technologies (NASDAQ:AEVA) Shares Down 7% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) was down 7% on Tuesday . The stock traded as low as $14.56 and last traded at $14.57. Approximately 995,505 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 2,265,657 shares. The stock had previously closed at $15.66.

Wall Street Analysts Forecast Growth

AEVA has been the topic of several research reports. Weiss Ratings lowered shares of Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Oppenheimer reissued an “outperform” rating and issued a $42.00 price objective on shares of Aeva Technologies in a research report on Thursday, August 6th. The Goldman Sachs Group initiated coverage on shares of Aeva Technologies in a research note on Monday, August 24th. They issued a “neutral” rating and a $20.00 target price on the stock. Canaccord Genuity Group lifted their target price on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley upped their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.75.

Aeva Technologies Price Performance

The business’s 50 day moving average price is $19.77 and its 200-day moving average price is $18.40. 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 company has a market cap of $953.16 million, a PE ratio of -5.54 and a beta of 2.44.

Insiders Place Their Bets

In other Aeva Technologies news, CTO Mina Rezk sold 350,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $8,599,500.00. Following the completion of the transaction, the chief technology officer directly owned 1,706,669 shares of the company’s stock, valued at $41,932,857.33. This represents a 17.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 225,349 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $5,536,824.93. Following the sale, the chief executive officer owned 1,659,957 shares of the company’s stock, valued at $40,785,143.49. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,292,344 shares of company stock worth $30,568,186 in the last quarter. 36.70% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

Hedge funds have recently made changes to their positions in the stock. Duquesne Family Office LLC bought a new stake in shares of Aeva Technologies in the 3rd quarter worth about $26,670,000. Millennium Management LLC bought a new stake in Aeva Technologies in the third quarter valued at $25,751,000. Delta Global Management LP boosted its stake in Aeva Technologies by 29.7% during the 4th quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock valued at $21,555,000 after purchasing an additional 372,159 shares during the period. Vanguard Group Inc. grew its position in Aeva Technologies by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after purchasing an additional 175,482 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Aeva Technologies by 158.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after purchasing an additional 885,774 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

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.