Aeva Technologies (NASDAQ:AEVA) Stock Price Up 11.9% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares rose 11.9% during trading on Monday . The company traded as high as $15.27 and last traded at $14.84. Approximately 1,251,371 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 3,325,171 shares. The stock had previously closed at $13.26.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 target price on shares of Aeva Technologies in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Aeva Technologies currently has an average rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The stock has a market cap of $870.56 million, a PE ratio of -2.86 and a beta of 2.09. The company’s 50-day moving average price is $14.74 and its 200 day moving average price is $14.62.

Aeva Technologies (NASDAQ:AEVA) last posted its earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.06. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 804.40%.The company had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $3.69 million. As a group, equities research analysts predict that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Transactions at Aeva Technologies

In related news, CFO Saurabh Sinha sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the completion of the transaction, the chief financial officer directly owned 627,756 shares in the company, valued at $12,956,883.84. This trade represents a 8.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mina Rezk sold 321,723 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $12.96, for a total transaction of $4,169,530.08. Following the sale, the chief technology officer owned 1,534,547 shares in the company, valued at $19,887,729.12. This trade represents a 17.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,032,213 shares of company stock worth $14,722,858. 27.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several large investors have recently bought and sold shares of the business. Quantbot Technologies LP increased its holdings 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 valued at $30,000 after acquiring an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Aeva Technologies in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its holdings 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 in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Aeva Technologies in the 4th quarter valued at $49,000. 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.