Aeva Technologies (NASDAQ:AEVA) Stock Price Up 12.6% – Still a Buy?

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price shot up 12.6% on Friday . The company traded as high as $19.58 and last traded at $19.02. 2,122,530 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 6,299,785 shares. The stock had previously closed at $16.89.

Wall Street Analyst Weigh In

A number of research firms have commented on AEVA. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price objective on shares of Aeva Technologies in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.50.

Aeva Technologies Stock Up 20.2%

The firm has a market capitalization of $1.22 billion, a PE ratio of -3.82 and a beta of 2.08. The company’s 50-day simple moving average is $13.12 and its 200 day simple moving average is $17.23.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter. The firm had revenue of $3.58 million during the quarter. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 1,031.15%. On average, sell-side analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Saurabh Sinha sold 48,086 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $9.97, for a total transaction of $479,417.42. Following the transaction, the chief financial officer directly owned 720,512 shares of the company’s stock, valued at approximately $7,183,504.64. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mina Rezk sold 321,723 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $4,169,530.08. Following the sale, the chief technology officer owned 1,534,547 shares of the company’s stock, valued at approximately $19,887,729.12. This represents a 17.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,441,740 shares of company stock valued at $18,834,878. 27.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds have recently modified their holdings of the stock. Titan Global Capital Management USA LLC acquired a new stake in shares of Aeva Technologies during the second quarter worth about $2,500,000. Campbell & CO Investment Adviser LLC acquired a new position in Aeva Technologies in the 2nd quarter worth approximately $1,125,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Aeva Technologies during the 2nd quarter worth approximately $7,960,000. Employees Retirement System of Texas acquired a new stake in Aeva Technologies during the 2nd quarter valued at approximately $2,859,000. Finally, Geode Capital Management LLC lifted its stake in Aeva Technologies by 28.7% during the 2nd quarter. Geode Capital Management LLC now owns 808,205 shares of the company’s stock valued at $30,548,000 after acquiring an additional 180,269 shares during the period. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.