Aeva Technologies (NASDAQ:AEVA) Given New $27.00 Price Target at Morgan Stanley

Aeva Technologies (NASDAQ:AEVA) had its price target boosted by equities researchers at Morgan Stanley from $18.50 to $27.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 1.66% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, Oppenheimer restated an “outperform” rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday. Two research 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. According to MarketBeat.com, Aeva Technologies currently has a consensus rating of “Hold” and a consensus target price of $31.67.

Aeva Technologies Price Performance

Shares of NASDAQ AEVA traded up $1.30 during mid-day trading on Friday, hitting $26.56. 1,766,751 shares of the company’s stock traded hands, compared to its average volume of 2,344,264. The company’s 50-day moving average is $21.60 and its two-hundred day moving average is $17.71. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. The company has a market capitalization of $1.67 billion, a P/E ratio of -9.73 and a beta of 2.47. Aeva Technologies has a 1 year low of $8.83 and a 1 year high of $31.30.

Aeva Technologies (NASDAQ:AEVA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.12. Aeva Technologies had a negative return on equity of 1,166.04% and a negative net margin of 150.12%.The company had revenue of $6.26 million during the quarter. On average, equities analysts anticipate that Aeva Technologies will post -2.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen Paul Zadesky sold 2,984 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $25.41, for a total transaction of $75,823.44. Following the transaction, the director owned 92,898 shares of the company’s stock, valued at approximately $2,360,538.18. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mina Rezk sold 10,304 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $15.40, for a total value of $158,681.60. Following the sale, the chief technology officer directly owned 1,527,223 shares of the company’s stock, valued at $23,519,234.20. This represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 817,245 shares of company stock worth $19,342,658 in the last ninety days. 36.70% of the stock is currently owned by company insiders.

Institutional Trading of Aeva Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Duquesne Family Office LLC bought a new position in Aeva Technologies in the 3rd quarter worth about $26,670,000. Millennium Management LLC bought a new stake in shares of Aeva Technologies during the third quarter valued at approximately $25,751,000. Handelsbanken Fonder AB boosted its holdings in shares of Aeva Technologies by 158.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after purchasing an additional 885,774 shares during the period. Invesco Ltd. boosted its holdings in shares of Aeva Technologies by 1,223.8% in the second quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock valued at $23,219,000 after purchasing an additional 567,998 shares during the period. Finally, Delta Global Management LP grew its stake in Aeva Technologies by 29.7% in the fourth quarter. Delta Global Management LP now owns 1,623,148 shares of the company’s stock worth $21,555,000 after purchasing an additional 372,159 shares in the last quarter. Hedge funds and other institutional investors 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.