Aeva Technologies (NASDAQ:AEVA) Shares Up 9.6% – Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price rose 9.6% during trading on Wednesday . The company traded as high as $20.94 and last traded at $20.83. Approximately 588,895 shares traded hands during trading, a decline of 75% from the average daily volume of 2,387,605 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AEVA. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Three 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 a consensus target price of $26.50.

Aeva Technologies Stock Performance

The company has a market cap of $1.31 billion, a price-to-earnings ratio of -4.17 and a beta of 2.20. The firm has a 50-day simple moving average of $15.31 and a 200 day simple moving average of $14.42. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32.

Insider Activity

In other news, CTO Mina Rezk sold 27,389 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $411,930.56. Following the transaction, the chief technology officer owned 1,442,371 shares of the company’s stock, valued at approximately $21,693,259.84. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 32,079 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $13.94, for a total value of $447,181.26. Following the completion of the transaction, the chief financial officer directly owned 595,677 shares in the company, valued at approximately $8,303,737.38. The trade was a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 106,194 shares of company stock valued at $1,561,871. Company insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Aeva Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after buying an additional 630 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Aeva Technologies by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after buying an additional 884 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aeva Technologies in the second quarter valued at approximately $36,000. Rockefeller Capital Management L.P. boosted its stake in shares of Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock valued at $95,000 after buying an additional 1,159 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Aeva Technologies by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock valued at $266,000 after buying an additional 1,409 shares in the last quarter. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.