Aeva Technologies (NASDAQ:AEVA) Trading Down 10.4% – Time to Sell?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) traded down 10.4% on Wednesday . The stock traded as low as $17.62 and last traded at $17.68. 1,865,341 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 5,627,778 shares. The stock had previously closed at $19.74.

Analyst Upgrades and Downgrades

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

Aeva Technologies Price Performance

The company has a market cap of $1.09 billion, a price-to-earnings ratio of -3.42 and a beta of 2.08. The firm has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $16.33.

Aeva Technologies (NASDAQ:AEVA) last posted 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 for the quarter. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 1,031.15%. Analysts expect that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Activity

In other Aeva Technologies news, CFO Saurabh Sinha sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $20.64, for a total value of $1,238,400.00. Following the sale, the chief financial officer owned 627,756 shares of the company’s stock, valued at $12,956,883.84. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mina Rezk sold 64,787 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.85, for a total value of $1,221,234.95. Following the transaction, the chief technology officer owned 1,469,760 shares of the company’s stock, valued at approximately $27,704,976. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,651,923 shares of company stock valued at $22,904,227. 27.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AEVA. Quantbot Technologies LP raised its stake in Aeva Technologies by 122.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Aeva Technologies by 92.2% during the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after purchasing an additional 415 shares during the period. Jones Financial Companies Lllp raised its position in shares of Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after buying an additional 5,469 shares during the last quarter. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies in the second quarter valued at about $43,000. Finally, AlphaQuest LLC bought a new stake in shares of Aeva Technologies in the second quarter valued at about $51,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Company Profile

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.