Aeva Technologies (NASDAQ:AEVA) Shares Up 11% – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price traded up 11% during trading on Friday. The stock traded as high as $10.47 and last traded at $10.2040. Approximately 648,685 shares traded hands during trading, a decline of 69% from the average daily volume of 2,123,594 shares. The stock had previously closed at $9.19.

Analysts Set New Price Targets

Several research firms recently commented on AEVA. Canaccord Genuity Group raised their target price on Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut Aeva Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Morgan Stanley increased their price target on Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Aeva Technologies in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.75.

Aeva Technologies Trading Up 12.2%

The firm has a fifty day simple moving average of $13.13 and a 200-day simple moving average of $16.73. The firm has a market cap of $650.02 million, a P/E ratio of -3.81 and a beta of 2.56. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63.

Insider Buying and Selling

In other Aeva Technologies news, CFO Saurabh Sinha sold 70,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $21.21, for a total transaction of $1,484,700.00. Following the completion of the sale, the chief financial officer owned 581,372 shares in the company, valued at approximately $12,330,900.12. The trade was a 10.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Soroush Dardashti sold 219,486 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $24.03, for a total transaction of $5,274,248.58. Following the transaction, the chief executive officer owned 1,251,322 shares in the company, valued at approximately $30,069,267.66. The trade was a 14.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 509,245 shares of company stock worth $11,731,912 in the last ninety days. Corporate insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in AEVA. Bank of New York Mellon Corp bought a new stake in Aeva Technologies during the second quarter worth $2,382,000. Titan Global Capital Management USA LLC boosted its position in Aeva Technologies by 95.1% in the first quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company’s stock worth $2,102,000 after purchasing an additional 77,856 shares during the last quarter. Brooklands Fund Management Ltd purchased a new position in Aeva Technologies in the third quarter worth $23,158,000. Sona Asset Management US LLC bought a new position in Aeva Technologies in the 1st quarter valued at $987,000. Finally, Siren L.L.C. bought a new position in Aeva Technologies in the 1st quarter valued at $1,448,000. 62.92% of the stock is owned by institutional investors.

About Aeva Technologies

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company’s core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object’s location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.