Aeva Technologies (NASDAQ:AEVA) Upgraded at The Goldman Sachs Group

Aeva Technologies (NASDAQ:AEVA) was upgraded by stock analysts at The Goldman Sachs Group to a “hold” rating in a research report issued on Sunday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Oppenheimer restated an “outperform” rating and set a $42.00 target price on shares of Aeva Technologies in a research report on Thursday, August 6th. Canaccord Genuity Group increased their price target 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. Wall Street Zen lowered Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Morgan Stanley boosted their price objective on Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.75.

Aeva Technologies Trading Down 10.0%

Shares of AEVA opened at $16.46 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of -6.03 and a beta of 2.47. The company’s fifty day moving average is $20.88 and its 200 day moving average is $18.25. The company has a debt-to-equity ratio of 3.52, a quick ratio of 7.63 and a current ratio of 7.85. Aeva Technologies has a fifty-two week low of $8.83 and a fifty-two week high of $31.30.

Insider Transactions at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 30,514 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $24.32, for a total value of $742,100.48. Following the sale, the chief executive officer directly owned 1,220,808 shares of the company’s stock, valued at $29,690,050.56. This represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mina Rezk sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the completion of the sale, the chief technology officer directly owned 1,606,669 shares of the company’s stock, valued at approximately $38,576,122.69. The trade was a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,292,344 shares of company stock worth $30,568,186. 36.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Duquesne Family Office LLC bought a new stake in shares of Aeva Technologies during the 3rd quarter worth approximately $26,670,000. Millennium Management LLC purchased a new position in Aeva Technologies during the 3rd quarter valued at $25,751,000. 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 valued at $19,202,000 after acquiring an additional 885,774 shares during the last quarter. California State Teachers Retirement System grew its position in Aeva Technologies by 2,814.6% in the 2nd quarter. California State Teachers Retirement System now owns 651,973 shares of the company’s stock valued at $18,725,000 after acquiring an additional 629,604 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Aeva Technologies by 1,223.8% in the second quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock worth $23,219,000 after purchasing an additional 567,998 shares during the period. 62.92% of the stock is currently 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.