Aeva Technologies (NASDAQ:AEVA) Sets New 1-Year Low – Should You Sell?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $8.77 and last traded at $8.79, with a volume of 1,518,537 shares traded. The stock had previously closed at $9.94.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AEVA shares. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Oppenheimer reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Aeva Technologies in a report on Thursday, August 6th. Morgan Stanley upped their price objective on Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Canaccord Genuity Group increased their target price on Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group initiated coverage on Aeva Technologies in a research report on Monday, August 24th. They issued a “neutral” rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Aeva Technologies has an average rating of “Hold” and an average target price of $28.75.

Aeva Technologies Price Performance

The stock has a market cap of $550.34 million, a PE ratio of -3.20 and a beta of 2.41. The company has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $17.00. The company has a debt-to-equity ratio of 3.52, a current ratio of 7.85 and a quick ratio of 7.63.

Insider Buying and Selling

In related news, CFO Saurabh Sinha sold 70,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $21.21, for a total value of $1,484,700.00. Following the sale, the chief financial officer owned 581,372 shares of the company’s stock, valued at $12,330,900.12. The trade was a 10.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mina Rezk sold 100,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $2,401,000.00. Following the transaction, the chief technology officer directly owned 1,606,669 shares in the company, valued at $38,576,122.69. This trade represents a 5.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 509,245 shares of company stock worth $11,731,912 in the last quarter. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Brooklands Fund Management Ltd bought a new stake in Aeva Technologies during the 3rd quarter valued at $23,158,000. Bank of New York Mellon Corp acquired a new position in shares of Aeva Technologies in the second quarter worth about $2,382,000. Titan Global Capital Management USA LLC grew its position in shares of Aeva Technologies by 95.1% in the first quarter. Titan Global Capital Management USA LLC now owns 159,743 shares of the company’s stock valued at $2,102,000 after purchasing an additional 77,856 shares during the period. Bank of America Corp DE lifted its stake in Aeva Technologies by 27.7% in the 1st quarter. Bank of America Corp DE now owns 110,005 shares of the company’s stock valued at $1,448,000 after buying an additional 23,856 shares in the last quarter. Finally, Siren L.L.C. purchased a new stake in Aeva Technologies during the 1st quarter worth approximately $1,448,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Aeva Technologies Company Profile

Aeva Technologies, Inc develops sensing and perception systems designed to help machines understand their surroundings. The company’s core technology is a 4D lidar platform that uses frequency-modulated continuous-wave (FMCW) sensing to measure an object’s location, depth, and velocity, supporting applications that require real-time environmental awareness.

Its products include lidar sensors and related perception software for the automotive, industrial, robotics, mapping, and other machine-perception markets.