Aeva Technologies (NASDAQ:AEVA) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Aeva Technologies (NASDAQ:AEVAGet Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.06, Zacks reports. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%.

Aeva Technologies Stock Performance

Shares of NASDAQ:AEVA remained flat at $13.64 during trading on Thursday. The company had a trading volume of 2,695,603 shares, compared to its average volume of 3,404,604. The firm has a 50-day moving average of $14.76 and a 200-day moving average of $14.62. The firm has a market capitalization of $819.49 million, a P/E ratio of -2.56 and a beta of 2.09. Aeva Technologies has a 12-month low of $2.52 and a 12-month high of $38.80.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 321,723 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total transaction of $4,169,530.08. Following the completion of the transaction, the chief technology officer owned 1,534,547 shares in the company, valued at approximately $19,887,729.12. This represents a 17.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Soroush Salehian Dardashti sold 488,160 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $12.96, for a total value of $6,326,553.60. Following the transaction, the chief executive officer owned 1,831,199 shares of the company’s stock, valued at approximately $23,732,339.04. The trade was a 21.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,032,213 shares of company stock worth $14,722,858 in the last three months. 27.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEVA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after buying an additional 630 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Aeva Technologies by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock valued at $433,000 after acquiring an additional 884 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aeva Technologies in the 2nd quarter worth $36,000. MetLife Investment Management LLC grew its position in shares of Aeva Technologies by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock worth $266,000 after buying an additional 1,409 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Aeva Technologies by 18.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 10,088 shares of the company’s stock valued at $134,000 after buying an additional 1,599 shares during the period. 62.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AEVA. Weiss Ratings restated a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Aeva Technologies in a report on Thursday, December 4th. Finally, Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Three research 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’s stock. According to MarketBeat, Aeva Technologies currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Check Out Our Latest Stock Analysis on AEVA

About Aeva Technologies

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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.

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Earnings History for Aeva Technologies (NASDAQ:AEVA)

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