Aeva Technologies (NASDAQ:AEVA) Trading Down 7.8% – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA) shares traded down 7.8% during trading on Monday . The stock traded as low as $14.51 and last traded at $14.76. 617,234 shares were traded during trading, a decline of 69% from the average session volume of 1,976,317 shares. The stock had previously closed at $16.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Aeva Technologies in a report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeva Technologies in a research note on Monday, December 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Stock Performance

The firm’s 50-day moving average is $14.09 and its 200 day moving average is $18.20. The firm has a market capitalization of $788.25 million, a P/E ratio of -2.47 and a beta of 2.16.

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

Insider Transactions at Aeva Technologies

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 250,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $13.45, for a total transaction of $3,362,500.00. Following the sale, the chief executive officer directly owned 1,884,808 shares of the company’s stock, valued at $25,350,667.60. The trade was a 11.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mina Rezk sold 250,000 shares of Aeva Technologies 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 sale, the chief technology officer directly owned 2,956,669 shares in the company, valued at approximately $39,767,198.05. This represents a 7.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 619,710 shares of company stock valued at $8,181,369 over the last 90 days. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently made changes to their positions in AEVA. GAMMA Investing LLC raised its position in Aeva Technologies by 92.2% during 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 position in Aeva Technologies during the second quarter worth about $36,000. Total Investment Management Inc. acquired a new position in Aeva Technologies during the second quarter worth approximately $43,000. AlphaQuest LLC bought a new stake in Aeva Technologies in the second quarter valued at approximately $51,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Aeva Technologies by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company’s stock worth $80,000 after acquiring an additional 1,657 shares during the period. Institutional investors and hedge funds 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.