Aeva Technologies (NASDAQ:AEVA) Stock Price Down 9.2% – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) dropped 9.2% during mid-day trading on Thursday . The company traded as low as $26.01 and last traded at $26.60. Approximately 522,403 shares changed hands during trading, a decline of 78% from the average daily volume of 2,426,982 shares. The stock had previously closed at $29.29.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Aeva Technologies presently has an average rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Stock Performance

The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -5.65 and a beta of 2.20. The company’s 50-day simple moving average is $16.92 and its 200-day simple moving average is $15.05.

Insiders Place Their Bets

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 41,083 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total transaction of $617,888.32. Following the transaction, the chief executive officer directly owned 1,725,329 shares in the company, valued at approximately $25,948,948.16. The trade was a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 32,079 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer owned 595,677 shares in the company, valued at approximately $8,303,737.38. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 106,194 shares of company stock worth $1,561,871. 36.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flight Deck Capital LP purchased a new position in Aeva Technologies during the 3rd quarter worth approximately $7,084,000. Delta Global Management LP purchased a new position in Aeva Technologies during the 3rd quarter worth approximately $18,139,000. Handelsbanken Fonder AB grew its position in Aeva Technologies by 3,299.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock worth $8,115,000 after purchasing an additional 543,173 shares in the last quarter. Melqart Asset Management UK Ltd purchased a new position in Aeva Technologies during the 3rd quarter worth approximately $5,471,000. Finally, Essex Investment Management Co. LLC purchased a new position in Aeva Technologies during the 3rd quarter worth approximately $610,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.