Weiss Ratings Reaffirms “Sell (D-)” Rating for Aeva Technologies (NASDAQ:AEVA)

Aeva Technologies (NASDAQ:AEVA)‘s stock had its “sell (d-)” rating reissued by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Oppenheimer upped their price target on Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Morgan Stanley upped their price target on Aeva Technologies from $11.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, Roth Capital upped their price target on Aeva Technologies from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Aeva Technologies Trading Up 1.2%

Shares of NASDAQ:AEVA opened at $16.17 on Wednesday. The stock has a market capitalization of $910.86 million, a P/E ratio of -2.94 and a beta of 2.02. The business has a 50-day moving average price of $15.07 and a two-hundred day moving average price of $16.64. Aeva Technologies has a 1-year low of $2.52 and a 1-year high of $38.80.

Aeva Technologies (NASDAQ:AEVA) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.51 million during the quarter, compared to the consensus estimate of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. As a group, equities analysts predict that Aeva Technologies will post -2.7 EPS for the current year.

Insider Activity at Aeva Technologies

In related news, CFO Saurabh Sinha sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.33, for a total value of $2,132,800.00. Following the completion of the transaction, the chief financial officer directly owned 810,710 shares in the company, valued at approximately $10,806,764.30. The trade was a 16.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $13.45, for a total transaction of $2,690,000.00. Following the transaction, the chief executive officer directly owned 2,134,808 shares of the company’s stock, valued at $28,713,167.60. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 646,658 shares of company stock worth $8,698,680. 27.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after purchasing an additional 415 shares during the last quarter. Quantbot Technologies LP acquired a new position in Aeva Technologies during the second quarter worth $36,000. Jones Financial Companies Lllp boosted its holdings in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares during the last quarter. Total Investment Management Inc. acquired a new position in Aeva Technologies during the second quarter worth $43,000. Finally, AlphaQuest LLC acquired a new position in Aeva Technologies during the second quarter worth $51,000. Institutional investors and hedge funds 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.