Aeva Technologies (NASDAQ:AEVA) Stock Price Down 7% – What’s Next?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) fell 7% during trading on Tuesday . The stock traded as low as $14.56 and last traded at $14.57. Approximately 995,505 shares were traded during mid-day trading, a decline of 56% from the average session volume of 2,265,657 shares. The stock had previously closed at $15.66.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AEVA shares. Wall Street Zen downgraded shares of Aeva Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Morgan Stanley lifted their price objective on Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings cut Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Canaccord Genuity Group increased their target price on Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $42.00 target price on shares of Aeva Technologies 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.75.

Aeva Technologies Trading Down 5.6%

The stock has a market cap of $931.73 million, a P/E ratio of -5.41 and a beta of 2.47. The company has a debt-to-equity ratio of 3.52, a quick ratio of 7.63 and a current ratio of 7.85. The stock’s fifty day moving average is $20.04 and its 200 day moving average is $18.37.

Insider Buying and Selling at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 30,514 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $24.32, for a total value of $742,100.48. Following the completion of the transaction, the chief executive officer owned 1,220,808 shares in the company, valued at approximately $29,690,050.56. The trade was a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Saurabh Sinha sold 70,000 shares of the business’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 transaction, the chief financial officer directly owned 581,372 shares in the company, valued at approximately $12,330,900.12. This represents a 10.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,292,344 shares of company stock worth $30,568,186 over the last ninety days. Company insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Duquesne Family Office LLC bought a new stake in Aeva Technologies in the third quarter worth $26,670,000. Millennium Management LLC purchased a new stake in shares of Aeva Technologies in the third quarter valued at $25,751,000. Delta Global Management LP raised its stake in shares of Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock valued at $21,555,000 after acquiring an additional 372,159 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Aeva Technologies by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,576,930 shares of the company’s stock worth $22,865,000 after acquiring an additional 175,482 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Aeva Technologies by 158.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after acquiring an additional 885,774 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

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.