Aeva Technologies (NYSE:AEVA) Shares Gap Down to $8.65

Shares of Aeva Technologies, Inc. (NYSE:AEVA) gapped down before the market opened on Monday . The stock had previously closed at $8.65, but opened at $8.44. Aeva Technologies shares last traded at $8.52, with a volume of 2,634 shares changing hands.

Several equities analysts have recently issued reports on AEVA shares. Zacks Investment Research upgraded Aeva Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th. New Street Research began coverage on Aeva Technologies in a research report on Wednesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Morgan Stanley began coverage on Aeva Technologies in a report on Monday, July 19th. They issued an “equal weight” rating and a $11.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.00.

The firm has a fifty day simple moving average of $9.16.

Aeva Technologies (NYSE:AEVA) last issued its quarterly earnings results on Wednesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $2.60 million during the quarter, compared to analyst estimates of $1.50 million. On average, equities analysts forecast that Aeva Technologies, Inc. will post -0.41 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of AEVA. Sylebra Capital Ltd boosted its position in Aeva Technologies by 23.9% during the second quarter. Sylebra Capital Ltd now owns 25,369,170 shares of the company’s stock valued at $268,152,000 after purchasing an additional 4,889,850 shares during the last quarter. Vanguard Group Inc. acquired a new stake in Aeva Technologies during the second quarter valued at $93,423,000. BlackRock Inc. acquired a new stake in Aeva Technologies during the second quarter valued at $27,076,000. Geode Capital Management LLC acquired a new stake in Aeva Technologies during the second quarter valued at $10,699,000. Finally, Point72 Asset Management L.P. acquired a new stake in Aeva Technologies during the second quarter valued at $8,101,000. Institutional investors and hedge funds own 25.87% of the company’s stock.

Aeva Technologies Company Profile (NYSE:AEVA)

Aeva Technologies, Inc, through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications. The company is based in Mountain View, California.

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