Aeva Technologies (NASDAQ:AEVA) Issues Earnings Results

Aeva Technologies (NASDAQ:AEVA) released its earnings results on Wednesday. The company reported ($0.46) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $3.58 million during the quarter. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%.

Aeva Technologies Price Performance

Aeva Technologies stock opened at $13.78 on Thursday. The company has a market capitalization of $776.23 million, a price-to-earnings ratio of -2.51 and a beta of 2.04. Aeva Technologies has a one year low of $2.52 and a one year high of $38.80. The company’s fifty day moving average price is $16.05 and its two-hundred day moving average price is $18.07.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the transaction, the chief executive officer directly owned 2,134,808 shares of the company’s stock, valued at $28,713,167.60. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $13.48, for a total transaction of $3,370,000.00. Following the transaction, the chief technology officer directly owned 3,236,669 shares in the company, valued at $43,630,298.12. The trade was a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 718,282 shares of company stock valued at $9,675,632 over the last three months. 27.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in Aeva Technologies by 58.3% during the third quarter. Oppenheimer & Co. Inc. now owns 43,061 shares of the company’s stock valued at $624,000 after acquiring an additional 15,862 shares during the period. AlphaQuest LLC lifted its stake in shares of Aeva Technologies by 538.0% in the third quarter. AlphaQuest LLC now owns 8,690 shares of the company’s stock valued at $126,000 after buying an additional 7,328 shares during the period. Federated Hermes Inc. bought a new stake in shares of Aeva Technologies in the third quarter valued at about $1,173,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Aeva Technologies in the third quarter valued at about $205,000. Finally, Strs Ohio lifted its stake in shares of Aeva Technologies by 56.4% in the third quarter. Strs Ohio now owns 18,300 shares of the company’s stock valued at $265,000 after buying an additional 6,600 shares during the period. 62.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AEVA has been the topic of several research reports. Oppenheimer upped their price target on Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Morgan Stanley raised their target price on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Aeva Technologies from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeva Technologies in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

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.