Aeva Technologies (NASDAQ:AEVA) Raised to Hold at The Goldman Sachs Group

Aeva Technologies (NASDAQ:AEVA) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

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

Aeva Technologies Price Performance

AEVA stock opened at $16.46 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -6.03 and a beta of 2.47. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63. The company has a 50 day simple moving average of $20.88 and a 200 day simple moving average of $18.25. Aeva Technologies has a 1 year low of $8.83 and a 1 year high of $31.30.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 225,349 shares of Aeva Technologies stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total transaction of $5,536,824.93. Following the transaction, the chief executive officer directly owned 1,659,957 shares of the company’s stock, valued at approximately $40,785,143.49. The trade was a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mina Rezk sold 350,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $24.57, for a total value of $8,599,500.00. Following the completion of the sale, the chief technology officer owned 1,706,669 shares in the company, valued at $41,932,857.33. This trade represents a 17.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,292,344 shares of company stock valued at $30,568,186 in the last three months. Insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Aeva Technologies by 29.2% in the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after acquiring an additional 4,707 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 valued at $96,000 after acquiring an additional 630 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after acquiring an additional 5,469 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Aeva Technologies during the second quarter valued at approximately $446,000. Finally, Russell Investments Group Ltd. bought a new stake in Aeva Technologies during the second quarter worth $1,239,000. Institutional investors and hedge funds 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.