Aeva Technologies (NASDAQ:AEVA) Stock Price Up 9.7% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 9.7% on Monday . The company traded as high as $15.53 and last traded at $15.48. 870,891 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,892,607 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AEVA shares. Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price objective on shares of Aeva Technologies in a research note on Thursday, December 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aeva Technologies currently has an average rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Stock Up 11.6%

The company has a 50-day moving average price of $14.89 and a 200-day moving average price of $14.72. The company has a market capitalization of $946.26 million, a price-to-earnings ratio of -3.11 and a beta of 2.09.

Insider Buying and Selling at Aeva Technologies

In other news, CTO Mina Rezk sold 64,787 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.85, for a total value of $1,221,234.95. Following the completion of the sale, the chief technology officer directly owned 1,469,760 shares of the company’s stock, valued at approximately $27,704,976. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Soroush Salehian Dardashti 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 completion of the sale, the chief executive officer directly owned 1,766,412 shares of the company’s stock, valued at $33,296,866.20. This represents a 3.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,064,292 shares of company stock valued at $15,170,040 in the last 90 days. 27.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Flight Deck Capital LP acquired a new position in Aeva Technologies in the third quarter worth about $7,084,000. Delta Global Management LP bought a new position in Aeva Technologies during the third quarter worth about $18,139,000. Employees Retirement System of Texas acquired a new stake in Aeva Technologies during the second quarter valued at approximately $2,859,000. Geode Capital Management LLC grew its stake in shares of Aeva Technologies by 28.7% in the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock valued at $30,548,000 after purchasing an additional 180,269 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in shares of Aeva Technologies by 3,299.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock valued at $8,115,000 after purchasing an additional 543,173 shares during the period. Institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

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.