Aeva Technologies (NASDAQ:AEVA) Hits New 1-Year Low – Should You Sell?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) hit a new 52-week low on Thursday. The company traded as low as $8.42 and last traded at $8.83, with a volume of 567,659 shares trading hands. The stock had previously closed at $9.49.

Analyst Ratings Changes

AEVA has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. Morgan Stanley lifted their price objective on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $42.00 price objective on shares of Aeva Technologies in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Aeva Technologies Stock Down 3.5%

The company has a 50-day moving average of $13.27 and a 200-day moving average of $16.78. The company has a current ratio of 7.85, a quick ratio of 7.63 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $577.57 million, a price-to-earnings ratio of -3.36 and a beta of 2.56.

Insider Transactions at Aeva Technologies

In related news, CEO Soroush Dardashti sold 30,514 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $24.32, for a total value of $742,100.48. Following the completion of the sale, the chief executive officer directly owned 1,220,808 shares in the company, valued at $29,690,050.56. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Saurabh Sinha sold 34,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $14.83, for a total transaction of $506,385.18. Following the sale, the chief financial officer directly owned 547,226 shares in the company, valued at approximately $8,115,361.58. This represents a 5.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 509,245 shares of company stock worth $11,731,912. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock worth $95,000 after buying an additional 1,159 shares during the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Aeva Technologies during the third quarter valued at $205,000. Next Capital Management LLC purchased a new stake in shares of Aeva Technologies during the second quarter valued at $211,000. Quantinno Capital Management LP grew its holdings in shares of Aeva Technologies by 15.4% during the first quarter. Quantinno Capital Management LP now owns 24,141 shares of the company’s stock valued at $318,000 after buying an additional 3,218 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Aeva Technologies by 51.7% in the 1st quarter. Royal Bank of Canada now owns 28,504 shares of the company’s stock valued at $375,000 after acquiring an additional 9,720 shares during the period. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company’s core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object’s location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.