Aeva Technologies (NASDAQ:AEVA) Stock Price Up 9.6% – Should You Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares rose 9.6% during trading on Wednesday . The stock traded as high as $20.94 and last traded at $20.83. Approximately 588,895 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 2,387,605 shares. The stock had previously closed at $19.00.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AEVA shares. Weiss Ratings upgraded 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -4.83 and a beta of 2.20. The company has a fifty day moving average price of $15.54 and a two-hundred day moving average price of $14.50.

Insider Activity

In other news, CTO Mina Rezk sold 27,389 shares of the company’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 $411,930.56. Following the completion of the sale, the chief technology officer owned 1,442,371 shares in the company, valued at $21,693,259.84. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a 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 company’s stock in a transaction on Tuesday, May 5th. The shares were 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 owned 1,725,329 shares of the company’s stock, valued at approximately $25,948,948.16. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 106,194 shares of company stock worth $1,561,871 over the last 90 days. 36.70% of the stock is currently owned by company insiders.

Institutional Trading of Aeva Technologies

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 630 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Aeva Technologies by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after buying an additional 884 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Aeva Technologies during the second quarter worth $36,000. Rockefeller Capital Management L.P. raised its position in shares of Aeva Technologies by 19.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock worth $95,000 after purchasing an additional 1,159 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Aeva Technologies by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock worth $266,000 after purchasing an additional 1,409 shares during the period. Institutional investors and hedge funds 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.