Aeva Technologies (NASDAQ:AEVA) Shares Up 7.9% – Here’s Why

by · The Cerbat Gem

Aeva Technologies, Inc. (NASDAQ:AEVA – Get Free Report) traded up 7.9% during trading on Thursday . The stock traded as high as $16.86 and last traded at $16.66. 1,115,907 shares were traded during trading, a decline of 44% from the average session volume of 1,976,565 shares. The stock had previously closed at $15.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Aeva Technologies in a research note on Monday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Aeva Technologies in a research note on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.

View Our Latest Report on AEVA

Aeva Technologies Stock Up 10.9%

The company has a market cap of $1.03 billion, a PE ratio of -3.22 and a beta of 2.16. The stock has a 50-day moving average of $14.20 and a 200-day moving average of $18.24.

Aeva Technologies (NASDAQ:AEVA – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. The business had revenue of $3.58 million during the quarter. Research analysts expect that Aeva Technologies, Inc. will post -2.7 EPS for the current year.

Insider Buying and Selling at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 250,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $13.45, for a total value of $3,362,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,884,808 shares in the company, valued at approximately $25,350,667.60. The trade was a 11.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 48,086 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $9.97, for a total value of $479,417.42. Following the completion of the transaction, the chief financial officer directly owned 720,512 shares in the company, valued at approximately $7,183,504.64. This represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 619,710 shares of company stock worth $8,181,369 over the last three months. 27.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AEVA. Quantbot Technologies LP raised its stake in shares of Aeva Technologies by 122.8% during the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after acquiring an additional 1,157 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. Total Investment Management Inc. purchased a new position in Aeva Technologies in the 2nd quarter worth $43,000. Finally, AlphaQuest LLC bought a new stake in Aeva Technologies in the second quarter worth $51,000. 62.92% of the stock is currently owned by institutional investors.

About Aeva Technologies

(Get Free Report)

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.

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