Aeva Technologies (NASDAQ:AEVA) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Aeva Technologies (NASDAQ:AEVA) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other research firms also recently commented on AEVA. Oppenheimer upped their price objective on shares of Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeva Technologies in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.50.

Aeva Technologies Price Performance

AEVA opened at $13.60 on Friday. Aeva Technologies has a 1-year low of $2.52 and a 1-year high of $38.80. The stock has a market cap of $766.09 million, a P/E ratio of -2.56 and a beta of 2.04. The stock’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $18.29.

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 return on equity of 753.07% and a negative net margin of 1,031.15%. Research analysts expect that Aeva Technologies 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 business’s 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 sale, the chief executive officer directly owned 1,884,808 shares in the company, valued at approximately $25,350,667.60. The trade was a 11.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Saurabh Sinha sold 5,454 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 768,598 shares of the company’s stock, valued at approximately $10,483,676.72. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 968,282 shares of company stock valued at $13,030,632 over the last 90 days. 27.20% of the stock is currently owned by company insiders.

Institutional Trading of Aeva Technologies

Several large investors have recently added to or reduced their stakes in AEVA. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 415 shares during the last quarter. Quantbot Technologies LP bought a new position in Aeva Technologies in the 2nd quarter worth approximately $36,000. Total Investment Management Inc. bought a new stake in Aeva Technologies in the 2nd quarter valued at $43,000. AlphaQuest LLC bought a new position in Aeva Technologies during the second quarter valued at about $51,000. Finally, Nisa Investment Advisors LLC raised its holdings in Aeva Technologies by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company’s stock valued at $80,000 after acquiring an additional 1,657 shares in the last quarter. 62.92% of the stock is owned by institutional investors.

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.