Aeva Technologies (NASDAQ:AEVA) Stock Price Down 5.2% – Time to Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares were down 5.2% during mid-day trading on Tuesday . The stock traded as low as $24.97 and last traded at $25.46. Approximately 405,710 shares changed hands during trading, a decline of 83% from the average daily volume of 2,432,605 shares. The stock had previously closed at $26.87.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AEVA shares. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.33.

Aeva Technologies Price Performance

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.71 and a beta of 2.41. 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 stock has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $16.36.

Insiders Place Their Bets

In other news, CEO Soroush Salehian Dardashti sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $1,228,500.00. Following the completion of the sale, the chief executive officer directly owned 1,470,808 shares of the company’s stock, valued at $36,137,752.56. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mina Rezk sold 350,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $8,599,500.00. Following the sale, the chief technology officer directly owned 1,706,669 shares of the company’s stock, valued at $41,932,857.33. This trade represents a 17.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 699,464 shares of company stock worth $16,479,515. 36.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aeva Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in AEVA. Quantbot Technologies LP bought a new position in shares of Aeva Technologies in the 2nd quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Aeva Technologies during the 4th quarter worth approximately $33,000. Daiwa Securities Group Inc. acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $100,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aeva Technologies during the 4th quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Aeva Technologies by 127.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock worth $163,000 after purchasing an additional 2,419 shares in the last quarter. 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.