Aeva Technologies, Inc. (NASDAQ:AEVA) Given Average Rating of “Hold” by Brokerages

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have earned an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.50.

A number of analysts have commented on AEVA shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Aeva Technologies Trading Down 0.7%

Shares of NASDAQ AEVA opened at $12.87 on Friday. Aeva Technologies has a 1 year low of $2.52 and a 1 year high of $38.80. The firm’s 50-day moving average is $14.87 and its 200-day moving average is $14.64. The firm has a market capitalization of $773.23 million, a PE ratio of -2.42 and a beta of 2.09.

Insider Activity

In related news, CTO Mina Rezk sold 64,787 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.85, for a total value of $1,221,234.95. Following the sale, the chief technology officer directly owned 1,469,760 shares in the company, valued at $27,704,976. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the transaction, the chief executive officer owned 1,766,412 shares of the company’s stock, valued at approximately $33,296,866.20. This represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,032,213 shares of company stock valued at $14,722,858 in the last ninety days. 27.20% of the stock is owned by insiders.

Institutional Trading of Aeva Technologies

Hedge funds have recently added to or reduced their stakes in the business. Duquesne Family Office LLC acquired a new position in Aeva Technologies in the third quarter valued at about $26,670,000. Millennium Management LLC bought a new position in shares of Aeva Technologies during the 3rd quarter valued at about $25,751,000. Delta Global Management LP acquired a new position in shares of Aeva Technologies in the 3rd quarter valued at approximately $18,139,000. Arrowstreet Capital Limited Partnership increased its stake in Aeva Technologies by 1,630.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company’s stock worth $41,760,000 after purchasing an additional 1,041,176 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Aeva Technologies by 158.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after buying an additional 885,774 shares during the period. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.