Aeva Technologies (NYSE:AEVA) Given New $16.00 Price Target at Canaccord Genuity Group

Aeva Technologies (NYSE:AEVA) had its price objective hoisted by Canaccord Genuity Group from $9.50 to $16.00 in a research note released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on AEVA. Oppenheimer boosted their price target on shares of Aeva Technologies from $6.00 to $9.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Morgan Stanley upped their target price on shares of Aeva Technologies from $5.22 to $11.00 and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

Aeva Technologies Trading Up 17.9%

Aeva Technologies stock opened at $17.03 on Thursday. The company has a market cap of $936.82 million, a PE ratio of -5.51 and a beta of 1.07. Aeva Technologies has a 1 year low of $2.20 and a 1 year high of $18.19. The company’s 50-day moving average is $7.04 and its two-hundred day moving average is $5.16.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 86,889 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $7.55, for a total transaction of $656,011.95. Following the completion of the sale, the chief technology officer now directly owns 8,296,669 shares of the company’s stock, valued at approximately $62,639,850.95. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,764,808 shares in the company, valued at $20,179,370.88. This represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 4,213,506 shares of company stock worth $24,985,345 and have sold 652,079 shares worth $3,947,397. Company insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

A number of institutional investors have recently modified their holdings of the company. PFG Investments LLC acquired a new stake in Aeva Technologies in the 4th quarter valued at approximately $48,000. Intech Investment Management LLC acquired a new position in Aeva Technologies during the 4th quarter worth approximately $52,000. Squarepoint Ops LLC bought a new position in shares of Aeva Technologies during the 4th quarter worth approximately $54,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Aeva Technologies in the fourth quarter valued at approximately $63,000. Finally, Advisory Services Network LLC bought a new stake in shares of Aeva Technologies in the fourth quarter worth $78,000. 62.92% of the stock is currently owned by institutional investors.

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.