Aeva Technologies (NASDAQ:AEVA) Trading Down 7.9% – Should You Sell?
by Danessa Lincoln · The Markets DailyAeva Technologies, Inc. (NASDAQ:AEVA – Get Free Report) fell 7.9% on Monday . The stock traded as low as $10.22 and last traded at $10.27. 267,478 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,948,920 shares. The stock had previously closed at $11.15.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AEVA. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aeva Technologies presently has a consensus rating of “Hold” and an average price target of $24.50.
Get Our Latest Report on Aeva Technologies
Aeva Technologies Stock Up 21.3%
The company has a market capitalization of $793.66 million, a price-to-earnings ratio of -2.48 and a beta of 2.16. The business’s 50-day moving average is $14.24 and its 200-day moving average is $18.28.
Aeva Technologies (NASDAQ:AEVA – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. The business had revenue of $3.58 million during the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. As a group, analysts expect that Aeva Technologies, Inc. will post -2.7 EPS for the current year.
Insider Buying and Selling
In other news, CFO Saurabh Sinha sold 48,086 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $9.97, for a total transaction of $479,417.42. Following the completion of the sale, the chief financial officer owned 720,512 shares in the company, valued at $7,183,504.64. This trade represents a 6.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mina Rezk sold 250,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $13.45, for a total value of $3,362,500.00. Following the sale, the chief technology officer directly owned 2,956,669 shares of the company’s stock, valued at approximately $39,767,198.05. This trade represents a 7.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 619,710 shares of company stock worth $8,181,369. Insiders own 27.20% of the company’s stock.
Hedge Funds Weigh In On Aeva Technologies
Several large investors have recently made changes to their positions in the stock. Titan Global Capital Management USA LLC purchased a new position in Aeva Technologies in the 2nd quarter valued at approximately $2,500,000. American Century Companies Inc. grew its position in shares of Aeva Technologies by 81.5% during the first quarter. American Century Companies Inc. now owns 46,623 shares of the company’s stock worth $326,000 after buying an additional 20,934 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Aeva Technologies during the first quarter worth approximately $781,000. Campbell & CO Investment Adviser LLC purchased a new position in Aeva Technologies in the second quarter worth approximately $1,125,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Aeva Technologies during the 2nd quarter worth approximately $7,960,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.
About Aeva Technologies
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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