Parkwood LLC Purchases 1,150,000 Shares of Aeva Technologies, Inc. (NYSE:AEVA)

Parkwood LLC increased its position in Aeva Technologies, Inc. (NYSE:AEVA) by 415.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,426,627 shares of the company’s stock after purchasing an additional 1,150,000 shares during the period. Parkwood LLC owned approximately 2.65% of Aeva Technologies worth $6,776,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AEVA. PFG Investments LLC purchased a new stake in Aeva Technologies during the 4th quarter worth about $48,000. Intech Investment Management LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter worth about $52,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter worth about $63,000. Advisory Services Network LLC purchased a new position in Aeva Technologies during the fourth quarter valued at approximately $78,000. Finally, SBI Securities Co. Ltd. bought a new stake in Aeva Technologies during the 4th quarter worth approximately $88,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEVA. Oppenheimer raised their price target on Aeva Technologies from $6.00 to $9.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Morgan Stanley increased their price target on shares of Aeva Technologies from $5.22 to $11.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Canaccord Genuity Group started coverage on shares of Aeva Technologies in a research report on Tuesday, April 1st. They issued a “buy” rating and a $9.50 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Aeva Technologies presently has an average rating of “Moderate Buy” and an average target price of $8.30.

Insider Activity

In related news, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the completion of the transaction, the chief executive officer now owns 3,764,808 shares of the company’s stock, valued at $20,179,370.88. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Paul Zadesky sold 14,851 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the sale, the director now directly owns 83,764 shares in the company, valued at $293,174. This trade represents a 15.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 4,213,506 shares of company stock valued at $24,985,345 and sold 652,079 shares valued at $3,947,397. Insiders own 29.10% of the company’s stock.

Aeva Technologies Stock Performance

NYSE:AEVA opened at $13.54 on Wednesday. Aeva Technologies, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $13.91. The business has a 50 day moving average price of $6.52 and a 200-day moving average price of $5.01. The firm has a market cap of $744.84 million, a PE ratio of -4.38 and a beta of 1.07.

Aeva Technologies Company Profile

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.