Oppenheimer Forecasts Strong Price Appreciation for Aeva Technologies (NYSE:AEVA) Stock

Aeva Technologies (NYSE:AEVA) had its price objective upped by stock analysts at Oppenheimer from $6.00 to $9.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 42.63% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Canaccord Genuity Group started coverage on shares of Aeva Technologies in a research report on Tuesday, April 1st. They issued a “buy” rating and a $9.50 price objective on the stock. Morgan Stanley boosted their target price on Aeva Technologies from $4.87 to $5.22 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Aeva Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $7.14.

Aeva Technologies Stock Performance

Aeva Technologies stock traded down $0.98 during midday trading on Monday, reaching $6.31. The stock had a trading volume of 1,039,934 shares, compared to its average volume of 463,774. Aeva Technologies has a twelve month low of $2.20 and a twelve month high of $8.12. The stock’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $4.45. The stock has a market capitalization of $345.25 million, a PE ratio of -2.04 and a beta of 1.03.

Insider Activity

In other Aeva Technologies news, major shareholder Sylebra Capital Llc bought 990,411 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $4.36 per share, for a total transaction of $4,318,191.96. Following the acquisition, the insider now directly owns 11,369,715 shares of the company’s stock, valued at approximately $49,571,957.40. The trade was a 9.54 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the completion of the sale, the chief executive officer now owns 3,764,808 shares of the company’s stock, valued at approximately $20,179,370.88. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 4,213,506 shares of company stock worth $24,985,345 and have sold 402,079 shares worth $2,208,479. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Aeva Technologies by 34.9% in the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock worth $122,000 after buying an additional 6,640 shares in the last quarter. Rhumbline Advisers increased its position in shares of Aeva Technologies by 13.2% during the fourth quarter. Rhumbline Advisers now owns 53,617 shares of the company’s stock valued at $255,000 after buying an additional 6,238 shares during the period. Barclays PLC boosted its position in shares of Aeva Technologies by 276.4% during the third quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after purchasing an additional 21,964 shares in the last quarter. PFG Investments LLC purchased a new position in Aeva Technologies during the 4th quarter valued at about $48,000. Finally, Geode Capital Management LLC increased its position in Aeva Technologies by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 611,873 shares of the company’s stock valued at $2,013,000 after buying an additional 76,044 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors.

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.