Wall Street Zen Upgrades Aeva Technologies (NASDAQ:AEVA) to “Hold”

Aeva Technologies (NASDAQ:AEVA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also commented on AEVA. Oppenheimer lifted their price target on Aeva Technologies from $9.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Canaccord Genuity Group increased their target price on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley raised their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Finally, Roth Capital increased their price objective on Aeva Technologies from $6.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

Aeva Technologies Stock Down 2.6%

Aeva Technologies stock opened at $23.06 on Friday. Aeva Technologies has a 52 week low of $2.20 and a 52 week high of $24.24. The company’s 50 day moving average price is $12.79 and its two-hundred day moving average price is $7.32. The stock has a market cap of $1.27 billion, a P/E ratio of -7.46 and a beta of 1.66.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $7.50, for a total transaction of $54,750.00. Following the sale, the chief technology officer now owns 8,689,369 shares of the company’s stock, valued at approximately $65,170,267.50. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc purchased 821,610 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was purchased at an average cost of $5.48 per share, with a total value of $4,502,422.80. Following the completion of the acquisition, the insider now owns 12,669,326 shares in the company, valued at approximately $69,427,906.48. This trade represents a 6.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,213,506 shares of company stock worth $24,985,345 and sold 1,067,228 shares worth $11,550,119. 27.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AEVA. Deutsche Bank AG grew its position in Aeva Technologies by 510.8% during the fourth quarter. Deutsche Bank AG now owns 45,039 shares of the company’s stock worth $214,000 after buying an additional 37,665 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Aeva Technologies by 308.6% during the fourth quarter. Two Sigma Investments LP now owns 74,288 shares of the company’s stock worth $353,000 after purchasing an additional 56,107 shares in the last quarter. Millennium Management LLC bought a new position in shares of Aeva Technologies in the fourth quarter worth approximately $174,000. Jane Street Group LLC increased its position in shares of Aeva Technologies by 2,490.3% in the fourth quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after purchasing an additional 623,889 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Aeva Technologies by 307.9% in the fourth quarter. Two Sigma Advisers LP now owns 48,700 shares of the company’s stock valued at $231,000 after purchasing an additional 36,760 shares in the last quarter. 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.