Aeva Technologies, Inc. (NYSE:AEVA) Sees Significant Increase in Short Interest

Aeva Technologies, Inc. (NYSE:AEVA) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,720,000 shares, a growth of 10.3% from the March 15th total of 1,560,000 shares. Approximately 5.2% of the company’s shares are short sold. Based on an average trading volume of 339,400 shares, the short-interest ratio is currently 5.1 days.

Insiders Place Their Bets

In other news, CEO Soroush Salehian Dardashti sold 33,147 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $3.95, for a total transaction of $130,930.65. Following the completion of the sale, the chief executive officer now directly owns 4,525,554 shares of the company’s stock, valued at approximately $17,875,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 176,729 shares of company stock valued at $756,557. Company insiders own 34.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AEVA. Sylebra Capital LLC acquired a new stake in shares of Aeva Technologies in the 3rd quarter worth approximately $20,730,000. Vanguard Group Inc. lifted its stake in shares of Aeva Technologies by 16.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,957,850 shares of the company’s stock worth $24,231,000 after acquiring an additional 1,841,986 shares during the period. Two Sigma Investments LP lifted its stake in shares of Aeva Technologies by 249.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,212,233 shares of the company’s stock worth $2,267,000 after acquiring an additional 865,543 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Aeva Technologies by 195.0% in the 3rd quarter. Two Sigma Advisers LP now owns 575,500 shares of the company’s stock worth $1,076,000 after acquiring an additional 380,400 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Aeva Technologies by 333.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 436,727 shares of the company’s stock worth $1,366,000 after acquiring an additional 336,078 shares during the period. Institutional investors own 62.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $25.00 target price on shares of Aeva Technologies in a report on Wednesday, March 6th. Roth Mkm lifted their target price on shares of Aeva Technologies from $5.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley lifted their target price on shares of Aeva Technologies to $5.10 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Aeva Technologies has an average rating of “Moderate Buy” and an average target price of $11.90.

Aeva Technologies Stock Down 7.3 %

Shares of NYSE:AEVA opened at $3.19 on Wednesday. Aeva Technologies has a fifty-two week low of $2.33 and a fifty-two week high of $7.60. The firm has a 50-day simple moving average of $4.66 and a 200 day simple moving average of $4.01.

Aeva Technologies (NYSE:AEVA) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. Aeva Technologies had a negative net margin of 3,463.20% and a negative return on equity of 52.88%. The business had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.59 million. As a group, analysts expect that Aeva Technologies will post -2.7 EPS for the current fiscal year.

About Aeva Technologies

Aeva Technologies, Inc engages in the design, manufacturing, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in the United States, Thailand, Europe, the Middle East, and Asia. The company develops its products using frequency modulated continuous wave sensing technology.