Aeva Technologies (NASDAQ:AEVA) Shares Gap Down – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA) shares gapped down before the market opened on Thursday . The stock had previously closed at $25.31, but opened at $22.50. Aeva Technologies shares last traded at $22.44, with a volume of 1,292,482 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AEVA shares. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Price Performance

The company’s 50-day moving average price is $17.65 and its 200-day moving average price is $15.39. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. The company has a market cap of $1.54 billion, a P/E ratio of -4.91 and a beta of 2.41.

Insider Transactions at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 41,083 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $617,888.32. Following the completion of the sale, the chief executive officer owned 1,725,329 shares of the company’s stock, valued at $25,948,948.16. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total transaction of $411,930.56. Following the transaction, the chief technology officer owned 1,442,371 shares of the company’s stock, valued at $21,693,259.84. The trade was a 1.86% 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 sold 74,115 shares of company stock valued at $1,114,690 over the last quarter. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Aeva Technologies in the second quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies in the fourth quarter valued at $33,000. Daiwa Securities Group Inc. acquired a new stake in Aeva Technologies in the second quarter valued at $100,000. Caitong International Asset Management Co. Ltd acquired a new stake in Aeva Technologies in the fourth quarter valued at $47,000. Finally, Tower Research Capital LLC TRC lifted its stake in Aeva Technologies by 127.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock valued at $163,000 after acquiring an additional 2,419 shares during the last quarter. 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.