Delta Global Management LP Acquires Shares of 1,250,989 Aeva Technologies, Inc. $AEVA

Delta Global Management LP acquired a new stake in Aeva Technologies, Inc. (NASDAQ:AEVA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,250,989 shares of the company’s stock, valued at approximately $18,139,000. Aeva Technologies accounts for about 1.3% of Delta Global Management LP’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Aeva Technologies during the 2nd quarter worth about $36,000. Total Investment Management Inc. bought a new position in Aeva Technologies in the 2nd quarter valued at about $43,000. Daiwa Securities Group Inc. acquired a new stake in Aeva Technologies during the second quarter worth approximately $100,000. Ameritas Investment Partners Inc. lifted its position in Aeva Technologies by 91.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,129 shares of the company’s stock worth $118,000 after acquiring an additional 1,496 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Aeva Technologies during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Stock Down 0.9%

Shares of Aeva Technologies stock opened at $15.16 on Monday. The stock has a market capitalization of $910.81 million, a price-to-earnings ratio of -2.99 and a beta of 2.09. Aeva Technologies, Inc. has a twelve month low of $2.64 and a twelve month high of $38.80. The company has a 50-day simple moving average of $15.08 and a two-hundred day simple moving average of $14.70.

Aeva Technologies (NASDAQ:AEVA) last announced its earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.06. Aeva Technologies had a negative net margin of 804.40% and a negative return on equity of 603.21%. The firm had revenue of $5.62 million for the quarter, compared to analyst estimates of $3.69 million. On average, sell-side analysts anticipate that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Activity at Aeva Technologies

In related news, CTO Mina Rezk sold 64,787 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the sale, the chief technology officer owned 1,469,760 shares of the company’s stock, valued at $27,704,976. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the 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 sale, the chief executive officer directly owned 1,766,412 shares in the company, valued at $33,296,866.20. This represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,064,292 shares of company stock worth $15,170,040. Company insiders own 27.20% of the company’s stock.

Analyst Ratings Changes

AEVA has been the topic of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of Aeva Technologies in a research report on Thursday, December 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.50.

Aeva Technologies 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.