Aeva Technologies (NASDAQ:AEVA) Stock Price Up 7.7% – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) rose 7.7% during trading on Wednesday . The stock traded as high as $10.43 and last traded at $10.27. Approximately 402,298 shares were traded during trading, a decline of 79% from the average daily volume of 1,956,117 shares. The stock had previously closed at $9.54.

Analyst Ratings Changes

AEVA has been the topic of several recent research reports. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Morgan Stanley upped their price target on shares of Aeva Technologies from $11.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, 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 market cap of $594.79 million, a PE ratio of -1.86 and a beta of 2.04. The business’s 50 day moving average is $15.49 and its 200-day moving average is $18.41.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter. The business had revenue of $3.58 million during the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. As a group, sell-side analysts predict that Aeva Technologies, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 1,884,808 shares of the company’s stock, valued at approximately $25,350,667.60. This trade represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 5,454 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $13.64, for a total value of $74,392.56. Following the completion of the transaction, the chief financial officer directly owned 768,598 shares of the company’s stock, valued at $10,483,676.72. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 608,282 shares of company stock valued at $8,207,832. Corporate insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of Aeva Technologies by 122.8% during the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after acquiring an additional 1,157 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Aeva Technologies by 27,345.0% in the 1st 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. bought a new position in shares of Aeva Technologies during the second quarter worth about $43,000. Finally, AlphaQuest LLC bought a new stake in shares of Aeva Technologies during the second quarter valued at approximately $51,000. 62.92% of the stock is owned by institutional investors and hedge funds.

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.