Aeva Technologies, Inc. (NYSE:AEVA) Sees Significant Growth in Short Interest

Aeva Technologies, Inc. (NYSE:AEVA) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,720,000 shares, an increase of 10.3% from the March 15th total of 1,560,000 shares. Based on an average trading volume of 339,400 shares, the days-to-cover ratio is currently 5.1 days. Approximately 5.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AEVA. Oppenheimer restated an “outperform” rating and issued a $25.00 target price on shares of Aeva Technologies in a research note on Wednesday, March 6th. Morgan Stanley boosted their price objective on Aeva Technologies to $5.10 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. Finally, Roth Mkm increased their target price on Aeva Technologies from $5.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.90.

Aeva Technologies Stock Performance

Shares of NYSE:AEVA opened at $3.74 on Monday. Aeva Technologies has a 1 year low of $2.33 and a 1 year high of $7.60. The business has a fifty day moving average price of $4.70 and a two-hundred day moving average price of $4.01.

Aeva Technologies (NYSE:AEVA) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.05. Aeva Technologies had a negative net margin of 3,463.20% and a negative return on equity of 52.88%. The company had revenue of $1.61 million during the quarter, compared to analyst estimates of $1.59 million. As a group, sell-side analysts anticipate that Aeva Technologies will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Soroush Salehian Dardashti sold 67,791 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.03, for a total value of $273,197.73. Following the sale, the chief executive officer now directly owns 4,558,701 shares of the company’s stock, valued at approximately $18,371,565.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 176,729 shares of company stock valued at $756,557 over the last ninety days. 34.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Aeva Technologies in the 1st quarter worth about $35,000. Commonwealth Equity Services LLC bought a new position in Aeva Technologies in the 3rd quarter worth about $36,000. Quadrature Capital Ltd bought a new position in Aeva Technologies in the 3rd quarter worth about $42,000. ExodusPoint Capital Management LP bought a new position in Aeva Technologies in the 4th quarter worth about $31,000. Finally, Barclays PLC boosted its stake in Aeva Technologies by 533.3% in the 4th quarter. Barclays PLC now owns 26,015 shares of the company’s stock worth $35,000 after purchasing an additional 21,907 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, manufacturing, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in the United States, Thailand, Europe, the Middle East, and Asia. The company develops its products using frequency modulated continuous wave sensing technology.