Aeva Technologies (NASDAQ:AEVA) Now Covered by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Aeva Technologies (NASDAQ:AEVA) in a research report issued on Monday,Benzinga reports. The brokerage set a “neutral” rating and a $20.00 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 9.35% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded Aeva Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Morgan Stanley increased their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings cut Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Oppenheimer reissued an “outperform” rating and set a $42.00 price objective on shares of Aeva Technologies in a report on Thursday, August 6th. Finally, Canaccord Genuity Group boosted their price objective 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. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.75.

Aeva Technologies Price Performance

AEVA stock opened at $18.29 on Monday. The firm has a 50 day moving average of $21.09 and a 200-day moving average of $18.23. 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 firm has a market capitalization of $1.15 billion, a P/E ratio of -6.70 and a beta of 2.47. Aeva Technologies has a 12 month low of $8.83 and a 12 month high of $31.30.

Insider Buying and Selling

In other Aeva Technologies news, CTO Mina Rezk sold 350,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $8,599,500.00. Following the transaction, the chief technology officer owned 1,706,669 shares in the company, valued at approximately $41,932,857.33. This represents a 17.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $21.21, for a total value of $1,484,700.00. Following the completion of the transaction, the chief financial officer owned 581,372 shares of the company’s stock, valued at approximately $12,330,900.12. The trade was a 10.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,292,344 shares of company stock valued at $30,568,186 over the last three months. Corporate insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently made changes to their positions in AEVA. Titan Global Capital Management USA LLC lifted its stake in shares of Aeva Technologies by 95.1% in the first quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company’s stock worth $2,102,000 after buying an additional 77,856 shares in the last quarter. Sona Asset Management US LLC purchased a new position in shares of Aeva Technologies in the first quarter worth $987,000. Siren L.L.C. bought a new stake in Aeva Technologies in the 1st quarter worth about $1,448,000. Walleye Capital LLC bought a new position in Aeva Technologies during the 1st quarter valued at about $1,401,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Aeva Technologies by 158.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after purchasing an additional 885,774 shares during the last quarter. 62.92% of the stock is owned by institutional investors.

About Aeva Technologies

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.