Aeva Technologies (NASDAQ:AEVA) Trading 11.5% Higher – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price rose 11.5% during mid-day trading on Tuesday . The company traded as high as $16.49 and last traded at $16.46. Approximately 629,858 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,134,015 shares. The stock had previously closed at $14.76.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of Aeva Technologies in a research report on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Price Performance

The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.30 and a beta of 2.09. The business has a fifty day moving average price of $14.99 and a 200 day moving average price of $14.70.

Aeva Technologies (NASDAQ:AEVA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.06. Aeva Technologies had a negative net margin of 804.40% and a negative return on equity of 603.21%. The business had revenue of $5.62 million for the quarter, compared to the consensus estimate of $3.69 million. As a group, sell-side analysts predict that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 64,787 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $18.85, for a total value of $1,221,234.95. Following the sale, the chief technology officer directly owned 1,469,760 shares in the company, valued at $27,704,976. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Saurabh Sinha sold 32,079 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $13.94, for a total transaction of $447,181.26. Following the transaction, the chief financial officer owned 595,677 shares in the company, valued at approximately $8,303,737.38. The trade was a 5.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,064,292 shares of company stock valued at $15,170,040 in the last ninety days. Company insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Several large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Aeva Technologies in the 2nd quarter worth approximately $36,000. Total Investment Management Inc. bought a new position in Aeva Technologies in the second quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Aeva Technologies in the fourth quarter worth $33,000. Daiwa Securities Group Inc. acquired a new stake in Aeva Technologies during the second quarter worth $100,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Aeva Technologies by 91.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,129 shares of the company’s stock worth $118,000 after buying an additional 1,496 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

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.