Aeva Technologies (NASDAQ:AEVA) Shares Down 9.4% Following Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA) fell 9.4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $20.80 and last traded at $21.32. 300,026 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,413,246 shares. The stock had previously closed at $23.54.

Specifically, Director Stephen Paul Zadesky sold 2,984 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the sale, the director owned 92,898 shares of the company’s stock, valued at $2,360,538.18. The trade was a 3.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two 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. Based on data from MarketBeat, Aeva Technologies currently has an average rating of “Hold” and an average price target of $25.33.

Aeva Technologies Price Performance

The business’s 50 day moving average is $20.62 and its 200-day moving average is $16.72. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The firm has a market capitalization of $1.32 billion, a P/E ratio of -4.18 and a beta of 2.41.

Institutional Trading of Aeva Technologies

Several institutional investors and hedge funds have recently modified their holdings of AEVA. Flight Deck Capital LP acquired a new stake in shares of Aeva Technologies in the 3rd quarter valued at approximately $7,084,000. Delta Global Management LP acquired a new position in Aeva Technologies during the 3rd quarter worth approximately $18,139,000. Handelsbanken Fonder AB increased its position in Aeva Technologies by 3,299.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 559,635 shares of the company’s stock worth $8,115,000 after purchasing an additional 543,173 shares in the last quarter. Melqart Asset Management UK Ltd bought a new position in Aeva Technologies in the 3rd quarter valued at approximately $5,471,000. Finally, UBS Group AG boosted its position in Aeva Technologies by 85.2% in the fourth quarter. UBS Group AG now owns 374,955 shares of the company’s stock valued at $4,979,000 after buying an additional 172,476 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors.

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.