Aeva Technologies (NASDAQ:AEVA) Trading 12.6% Higher – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares shot up 12.6% during trading on Tuesday . The stock traded as high as $13.25 and last traded at $13.08. 550,136 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,746,163 shares. The stock had previously closed at $11.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AEVA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a report on Friday, March 27th. Canaccord Genuity Group restated a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a research note on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Aeva Technologies currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Stock Up 0.3%

The firm’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $14.68. The company has a debt-to-equity ratio of 7.32, a quick ratio of 4.12 and a current ratio of 4.28. The company has a market capitalization of $830.94 million, a price-to-earnings ratio of -2.60 and a beta of 2.10.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 64,787 shares of the firm’s 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 executive officer owned 1,766,412 shares in the company, valued at approximately $33,296,866.20. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Saurabh Sinha sold 32,079 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total value of $447,181.26. Following the sale, the chief financial officer directly owned 595,677 shares in the company, valued at $8,303,737.38. The trade was a 5.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,064,292 shares of company stock valued at $15,170,040 over the last three months. 27.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AEVA. Duquesne Family Office LLC acquired a new stake in Aeva Technologies during the third quarter worth $26,670,000. Millennium Management LLC bought a new position in shares of Aeva Technologies during the 3rd quarter worth about $25,751,000. Delta Global Management LP bought a new position in shares of Aeva Technologies during the 3rd quarter worth about $18,139,000. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 valued at $41,760,000 after acquiring an additional 1,041,176 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Aeva Technologies by 158.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after acquiring an additional 885,774 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

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.