Aeva Technologies (NASDAQ:AEVA) Trading 8.6% Higher – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) was up 8.6% on Friday . The company traded as high as $28.61 and last traded at $28.07. Approximately 814,706 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 2,448,782 shares. The stock had previously closed at $25.84.

Analyst Ratings Changes

AEVA has been the topic of several recent analyst reports. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Performance

The firm has a market cap of $1.76 billion, a PE ratio of -5.58 and a beta of 2.20. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. The firm’s 50 day simple moving average is $16.65 and its 200 day simple moving average is $14.95.

Insiders Place Their Bets

In other Aeva Technologies news, CTO Mina Rezk sold 27,389 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the sale, the chief technology officer owned 1,442,371 shares in the company, valued at $21,693,259.84. The trade was a 1.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 5,643 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $84,870.72. Following the completion of the sale, the chief financial officer owned 590,034 shares in the company, valued at approximately $8,874,111.36. The trade was a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 106,194 shares of company stock worth $1,561,871 in the last 90 days. 36.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Aeva Technologies

Several hedge funds have recently bought and sold shares of AEVA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after purchasing an additional 630 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Aeva Technologies by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after buying an additional 884 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Aeva Technologies during the second quarter valued at approximately $36,000. Rockefeller Capital Management L.P. raised its holdings in shares of Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock worth $95,000 after buying an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Aeva Technologies by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock worth $266,000 after acquiring an additional 1,409 shares during the last quarter. Hedge funds and other 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.