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

Aeva Technologies, Inc. (NYSE:AEVA) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 2,030,000 shares, an increase of 5.7% from the June 15th total of 1,920,000 shares. Based on an average daily trading volume, of 244,200 shares, the short-interest ratio is presently 8.3 days. Approximately 6.7% of the shares of the stock are short sold.

Aeva Technologies Trading Down 4.3 %

Shares of AEVA traded down $0.16 during mid-day trading on Wednesday, reaching $3.60. The company had a trading volume of 57,877 shares, compared to its average volume of 308,418. The stock has a market cap of $190.26 million, a price-to-earnings ratio of -1.14 and a beta of 1.41. The firm has a fifty day simple moving average of $3.01 and a 200-day simple moving average of $3.93. Aeva Technologies has a fifty-two week low of $2.20 and a fifty-two week high of $7.25.

Aeva Technologies (NYSE:AEVA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02. Aeva Technologies had a negative net margin of 2,835.99% and a negative return on equity of 58.54%. The business had revenue of $2.11 million for the quarter, compared to analyst estimates of $1.70 million. As a group, equities analysts predict that Aeva Technologies will post -2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Craig Hallum dropped their price objective on shares of Aeva Technologies from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley raised their target price on shares of Aeva Technologies to $5.10 and gave the stock an “equal weight” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.92.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEVA. BNP Paribas Financial Markets bought a new stake in shares of Aeva Technologies in the 1st quarter worth about $31,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Aeva Technologies in the 1st quarter worth about $58,000. Parkwood LLC grew its position in shares of Aeva Technologies by 78.4% during the 4th quarter. Parkwood LLC now owns 609,825 shares of the company’s stock valued at $462,000 after buying an additional 268,046 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Aeva Technologies during the 1st quarter valued at about $633,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

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.