Aeva Technologies (NASDAQ:AEVA) CFO Saurabh Sinha Sells 20,620 Shares

Aeva Technologies, Inc. (NASDAQ:AEVA) CFO Saurabh Sinha sold 20,620 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $436,319.20. Following the completion of the transaction, the chief financial officer owned 658,202 shares in the company, valued at $13,927,554.32. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Saurabh Sinha also recently made the following trade(s):

• On Thursday, July 2nd, Saurabh Sinha sold 11,212 shares of Aeva Technologies stock. The stock was sold at an average price of $26.75, for a total value of $299,921.00.
• On Tuesday, May 5th, Saurabh Sinha sold 5,643 shares of Aeva Technologies stock. The stock was sold at an average price of $15.04, for a total value of $84,870.72.

Aeva Technologies Stock Performance

NASDAQ:AEVA opened at $18.81 on Tuesday. The stock has a 50-day moving average price of $22.71 and a 200 day moving average price of $17.52. The stock has a market capitalization of $1.19 billion, a P/E ratio of -3.77 and a beta of 2.40. Aeva Technologies, Inc. has a 12-month low of $8.83 and a 12-month high of $33.24. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32.

Aeva Technologies (NASDAQ:AEVA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million during the quarter. Equities research analysts forecast that Aeva Technologies, Inc. will post -2.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AEVA. Duquesne Family Office LLC bought a new stake in shares of Aeva Technologies in the 3rd quarter worth about $26,670,000. Millennium Management LLC bought a new position in shares of Aeva Technologies in the 3rd quarter valued at about $25,751,000. Delta Global Management LP purchased a new position in Aeva Technologies in the third quarter worth about $18,139,000. Handelsbanken Fonder AB grew its position in Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock worth $19,202,000 after acquiring an additional 885,774 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Aeva Technologies by 1,223.8% during the second quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock worth $23,219,000 after acquiring an additional 567,998 shares during the last quarter. 62.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AEVA. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen cut Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.33.

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.