Aeva Technologies (NASDAQ:AEVA) Trading Down 5.4% – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $19.34 and last traded at $19.42. 1,114,564 shares were traded during trading, a decline of 10% from the average session volume of 1,244,697 shares. The stock had previously closed at $20.53.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Morgan Stanley raised their price objective on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Roth Capital raised their price objective on shares of Aeva Technologies from $6.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.33.

Aeva Technologies Stock Up 9.7%

The company has a market capitalization of $1.15 billion, a P/E ratio of -6.76 and a beta of 1.66. The company’s 50-day simple moving average is $11.17 and its 200 day simple moving average is $6.64.

Insider Activity at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 250,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.70, for a total value of $3,925,000.00. Following the completion of the transaction, the chief executive officer now owns 3,514,808 shares in the company, valued at approximately $55,182,485.60. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mina Rezk sold 70,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $2.79, for a total transaction of $195,300.00. Following the completion of the sale, the chief technology officer now directly owns 8,696,669 shares in the company, valued at approximately $24,263,706.51. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,213,506 shares of company stock worth $24,985,345 and sold 1,137,228 shares worth $11,745,419. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at approximately $52,000. Squarepoint Ops LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at approximately $54,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Aeva Technologies in the 4th quarter valued at approximately $63,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Aeva Technologies by 4.8% in the 1st 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 during the period. Institutional investors own 62.92% of the company’s stock.

About Aeva Technologies

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.