Aeva Technologies (NASDAQ:AEVA) Stock Price Down 9.3% – Time to Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price was down 9.3% during trading on Friday . The stock traded as low as $12.88 and last traded at $12.88. Approximately 385,158 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,779,405 shares. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

AEVA has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price objective on shares of Aeva Technologies in a research report on Thursday, December 4th. 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. Based on data from MarketBeat.com, Aeva Technologies has an average rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Performance

The company has a market capitalization of $794.40 million, a PE ratio of -2.49 and a beta of 2.09. The company has a current ratio of 4.28, a quick ratio of 2.95 and a debt-to-equity ratio of 7.32. The business’s fifty day moving average is $14.51 and its two-hundred day moving average is $14.74.

Insider Transactions at Aeva Technologies

In related news, CFO Saurabh Sinha sold 60,000 shares of Aeva Technologies stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the completion of the sale, the chief financial officer directly owned 627,756 shares in the company, valued at approximately $12,956,883.84. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Soroush Salehian Dardashti sold 488,160 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 value of $6,326,553.60. Following the completion of the transaction, the chief executive officer directly owned 1,831,199 shares of the company’s stock, valued at approximately $23,732,339.04. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,064,292 shares of company stock worth $15,170,040 over the last quarter. 27.20% of the stock is currently owned by insiders.

Institutional Trading of Aeva Technologies

A number of large investors have recently made changes to their positions in AEVA. Flight Deck Capital LP purchased a new stake in Aeva Technologies in the third quarter worth approximately $7,084,000. Delta Global Management LP purchased a new stake in Aeva Technologies during the 3rd quarter valued at $18,139,000. Employees Retirement System of Texas purchased a new stake in Aeva Technologies during the 2nd quarter valued at $2,859,000. Geode Capital Management LLC lifted its holdings in shares of Aeva Technologies by 28.7% during the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock valued at $30,548,000 after buying an additional 180,269 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Aeva Technologies by 3,299.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock worth $8,115,000 after buying an additional 543,173 shares during the last quarter. 62.92% of the stock is currently owned by 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.