Delta Global Management LP Sells 517,280 Shares of Aeva Technologies, Inc. $AEVA

Delta Global Management LP lessened its stake in Aeva Technologies, Inc. (NASDAQ:AEVA) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,105,868 shares of the company’s stock after selling 517,280 shares during the period. Delta Global Management LP owned approximately 1.75% of Aeva Technologies worth $14,553,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AEVA. Duquesne Family Office LLC purchased a new stake in shares of Aeva Technologies during the 3rd quarter valued at $26,670,000. Millennium Management LLC purchased a new position in Aeva Technologies in the third quarter worth $25,751,000. Vanguard Group Inc. grew its position in Aeva Technologies by 12.5% in the third quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after acquiring an additional 175,482 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after acquiring an additional 885,774 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Aeva Technologies by 78.1% in the third quarter. Voloridge Investment Management LLC now owns 844,920 shares of the company’s stock valued at $12,251,000 after acquiring an additional 370,415 shares during the last quarter. Institutional investors own 62.92% of the company’s stock.

Aeva Technologies Trading Down 7.8%

Shares of AEVA opened at $14.85 on Friday. Aeva Technologies, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $31.30. The firm has a market cap of $936.14 million, a price-to-earnings ratio of -2.98 and a beta of 2.40. The firm has a 50 day moving average price of $22.66 and a 200-day moving average price of $17.73. The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09.

Aeva Technologies (NASDAQ:AEVA) last released its 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. The business had revenue of $6.26 million for the quarter. As a group, equities research analysts forecast that Aeva Technologies, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling at Aeva Technologies

In other news, CTO Mina Rezk sold 64,821 shares of Aeva Technologies stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total value of $1,371,612.36. Following the transaction, the chief technology officer owned 1,537,527 shares in the company, valued at approximately $32,534,071.32. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Soroush Salehian Dardashti sold 64,821 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $1,371,612.36. Following the completion of the sale, the chief executive officer directly owned 1,595,136 shares of the company’s stock, valued at approximately $33,753,077.76. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 863,922 shares of company stock valued at $20,034,803. Corporate insiders own 36.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AEVA shares. Wall Street Zen lowered 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 research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.50.

Aeva Technologies 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.