Aeva Technologies (NYSE:AEVA) Earns Buy Rating from Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group assumed coverage on shares of Aeva Technologies (NYSE:AEVA) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $9.50 price target on the stock. Canaccord Genuity Group’s price target points to a potential upside of 35.71% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Morgan Stanley increased their price target on Aeva Technologies from $4.87 to $5.22 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Oppenheimer lifted their price target on Aeva Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.54.

Aeva Technologies Price Performance

Shares of NYSE:AEVA opened at $7.00 on Tuesday. Aeva Technologies has a one year low of $2.20 and a one year high of $7.12. The company has a market cap of $383.00 million, a price-to-earnings ratio of -2.27 and a beta of 1.41. The firm has a 50 day simple moving average of $4.01 and a 200 day simple moving average of $4.02.

Insider Buying and Selling

In other Aeva Technologies news, CTO Mina Rezk sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $2.79, for a total transaction of $195,300.00. Following the completion of the transaction, the chief technology officer now owns 8,696,669 shares in the company, valued at approximately $24,263,706.51. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Paul Zadesky sold 14,851 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the completion of the sale, the director now directly owns 83,764 shares in the company, valued at approximately $293,174. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 4,213,506 shares of company stock valued at $24,985,345 and sold 284,851 shares valued at $1,319,279. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

A number of large investors have recently bought and sold shares of AEVA. PFG Investments LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at about $48,000. Intech Investment Management LLC acquired a new stake in Aeva Technologies during the fourth quarter worth approximately $52,000. Squarepoint Ops LLC bought a new stake in Aeva Technologies in the fourth quarter worth approximately $54,000. Susquehanna Fundamental Investments LLC acquired a new position in Aeva Technologies in the fourth quarter valued at approximately $63,000. Finally, Advisory Services Network LLC bought a new position in shares of Aeva Technologies during the 4th quarter worth approximately $78,000. 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.