Aeva Technologies (NASDAQ:AEVA) Stock Price Up 9.3% – Time to Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 9.3% during trading on Monday . The stock traded as high as $22.99 and last traded at $22.84. Approximately 319,808 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,416,685 shares. The stock had previously closed at $20.89.

Wall Street Analyst Weigh In

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

Aeva Technologies Price Performance

The company has a market cap of $1.81 billion, a PE ratio of -5.76 and a beta of 2.41. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The firm has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $17.00.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.12. Aeva Technologies had a negative net margin of 693.94% and a negative return on equity of 603.21%. The business had revenue of $6.26 million during the quarter. As a group, research analysts predict that Aeva Technologies, Inc. will post -2.25 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen Paul Zadesky sold 2,984 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the sale, the director owned 92,898 shares of the company’s stock, valued at $2,360,538.18. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $1,228,500.00. Following the transaction, the chief executive officer owned 1,470,808 shares in the company, valued at approximately $36,137,752.56. This trade represents a 3.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 702,448 shares of company stock worth $16,555,338. 36.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AEVA. Quantbot Technologies LP grew its position in Aeva Technologies by 122.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after purchasing an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Aeva Technologies during the fourth quarter worth $33,000. Jones Financial Companies Lllp lifted its stake in shares of 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 buying an additional 5,469 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aeva Technologies during the fourth quarter valued at $47,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Aeva Technologies by 79.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after buying an additional 1,922 shares during 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.