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

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

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Performance

Shares of AEVA stock opened at $13.23 on Friday. The business’s fifty day simple moving average is $13.84 and its 200-day simple moving average is $14.62. The company has a market cap of $832.83 million, a PE ratio of -2.61 and a beta of 2.10. The company has a current ratio of 4.28, a quick ratio of 4.12 and a debt-to-equity ratio of 7.32. Aeva Technologies has a 12-month low of $5.80 and a 12-month high of $38.80.

Insiders Place Their Bets

In other Aeva Technologies news, CFO Saurabh Sinha sold 32,079 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $13.94, for a total value of $447,181.26. Following the completion of the transaction, the chief financial officer owned 595,677 shares in the company, valued at approximately $8,303,737.38. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of Aeva Technologies stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,766,412 shares in the company, valued at $33,296,866.20. This represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 242,262 shares of company stock valued at $4,516,531. 27.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AEVA. Quantbot Technologies LP increased its stake in shares of Aeva Technologies by 122.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after acquiring an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies during the fourth quarter worth about $33,000. Jones Financial Companies Lllp raised its stake in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares during the period. Total Investment Management Inc. acquired a new position in Aeva Technologies in the 2nd quarter valued at about $43,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aeva Technologies in the 4th quarter valued at approximately $47,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.