Aeva Technologies (NASDAQ:AEVA) Downgraded to “Sell” Rating by Wall Street Zen

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

Separately, Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Three 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’s stock. According to MarketBeat, Aeva Technologies presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Stock Down 3.5%

Shares of Aeva Technologies stock opened at $20.48 on Friday. The company has a debt-to-equity ratio of 7.32, a quick ratio of 4.12 and a current ratio of 4.09. Aeva Technologies has a 52-week low of $8.83 and a 52-week high of $38.80. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.10 and a beta of 2.20. The company’s 50 day moving average price is $15.12 and its 200-day moving average price is $14.41.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 5,643 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $84,870.72. Following the completion of the sale, the chief financial officer owned 590,034 shares of the company’s stock, valued at $8,874,111.36. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Soroush Salehian Dardashti sold 41,083 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the sale, the chief executive officer directly owned 1,725,329 shares of the company’s stock, valued at $25,948,948.16. The trade was a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 106,194 shares of company stock valued at $1,561,871 over the last quarter. 36.70% of the stock is owned by company insiders.

Institutional Trading of Aeva Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Aeva Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after acquiring an additional 630 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Aeva Technologies by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock worth $433,000 after acquiring an additional 884 shares during the period. Quantbot Technologies LP purchased a new stake in Aeva Technologies in the second quarter worth $36,000. Rockefeller Capital Management L.P. lifted its stake in Aeva Technologies by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock worth $95,000 after acquiring an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Aeva Technologies by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock worth $266,000 after acquiring an additional 1,409 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.