Aeva Technologies (NASDAQ:AEVA) Shares Gap Down Following Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA) gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $13.60, but opened at $13.10. Aeva Technologies shares last traded at $11.85, with a volume of 648,810 shares trading hands.

Specifically, CEO Soroush Salehian Dardashti sold 250,000 shares of Aeva Technologies stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $13.45, for a total value of $3,362,500.00. Following the sale, the chief executive officer owned 1,884,808 shares of the company’s stock, valued at approximately $25,350,667.60. The trade was a 11.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mina Rezk sold 250,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $13.45, for a total value of $3,362,500.00. Following the transaction, the chief technology officer directly owned 2,956,669 shares of the company’s stock, valued at approximately $39,767,198.05. This trade represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other Aeva Technologies news, CTO Mina Rezk sold 26,468 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $13.64, for a total value of $361,023.52. Following the sale, the chief technology officer directly owned 1,705,668 shares in the company, valued at $23,265,311.52. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeva Technologies in a research note on Wednesday, October 8th. Oppenheimer boosted their price target on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.50.

Aeva Technologies Price Performance

The company has a fifty day moving average price of $15.92 and a 200 day moving average price of $18.29. The company has a market cap of $662.44 million, a PE ratio of -2.21 and a beta of 2.04.

Aeva Technologies (NASDAQ:AEVA) last announced its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 753.07%. The company had revenue of $3.58 million during the quarter. As a group, sell-side analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Institutional Trading of Aeva Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Aeva Technologies by 92.2% in the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after acquiring an additional 415 shares in the last quarter. Quantbot Technologies LP bought a new stake in Aeva Technologies during the second quarter worth about $36,000. Jones Financial Companies Lllp lifted its stake 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 during the last quarter. Total Investment Management Inc. purchased a new position in shares of Aeva Technologies in the 2nd quarter worth about $43,000. Finally, AlphaQuest LLC bought a new position in shares of Aeva Technologies during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.