Aeva Technologies’ (AEVA) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Aeva Technologies (NASDAQ:AEVA) in a report issued on Thursday,Benzinga reports. The firm currently has a $24.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a research report on Monday, November 24th. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Stock Down 7.4%

Shares of AEVA stock opened at $14.70 on Thursday. Aeva Technologies has a 12-month low of $2.52 and a 12-month high of $38.80. The company has a market capitalization of $883.18 million, a PE ratio of -2.76 and a beta of 2.16. The firm has a 50 day moving average price of $14.18 and a two-hundred day moving average price of $18.24.

Aeva Technologies (NASDAQ:AEVA) last announced its earnings results on Wednesday, November 5th. The company reported ($0.46) earnings per share for the quarter. The firm had revenue of $3.58 million for the quarter. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 1,031.15%. As a group, research analysts expect that Aeva Technologies will post -2.7 EPS for the current year.

Insider Buying and Selling

In other Aeva Technologies news, CFO Saurabh Sinha sold 48,086 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $9.97, for a total transaction of $479,417.42. Following the sale, the chief financial officer directly owned 720,512 shares in the company, valued at $7,183,504.64. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mina Rezk sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $13.45, for a total transaction of $3,362,500.00. Following the completion of the transaction, the chief technology officer directly owned 2,956,669 shares in the company, valued at approximately $39,767,198.05. This represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 619,710 shares of company stock valued at $8,181,369 over the last quarter. 27.20% of the stock is owned by company insiders.

Institutional Trading of Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Aeva Technologies during the second quarter worth approximately $36,000. Total Investment Management Inc. acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $43,000. AlphaQuest LLC acquired a new stake in Aeva Technologies in the second quarter worth $51,000. Finally, Nisa Investment Advisors LLC increased its stake in Aeva Technologies by 356.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,122 shares of the company’s stock valued at $80,000 after purchasing an additional 1,657 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors.

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.