Wall Street Zen Upgrades Aeva Technologies (NASDAQ:AEVA) to Hold

Aeva Technologies (NASDAQ:AEVA) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently issued reports on AEVA. Weiss Ratings restated a “sell (d-)” rating on shares of Aeva Technologies in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Aeva Technologies from $11.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Finally, Oppenheimer boosted their target price on Aeva Technologies from $18.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Aeva Technologies Stock Down 3.9%

AEVA opened at $16.47 on Friday. The business has a fifty day moving average of $15.44 and a 200 day moving average of $17.23. The stock has a market cap of $927.72 million, a P/E ratio of -2.99 and a beta of 2.02. Aeva Technologies has a 52-week low of $2.52 and a 52-week high of $38.80.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The business had revenue of $5.51 million for the quarter, compared to the consensus estimate of $3.40 million. Aeva Technologies had a negative return on equity of 287.71% and a negative net margin of 2,178.31%. Equities analysts anticipate that Aeva Technologies will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $13.45, for a total value of $2,690,000.00. Following the sale, the chief executive officer directly owned 2,134,808 shares of the company’s stock, valued at $28,713,167.60. This represents a 8.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Saurabh Sinha sold 36,658 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $13.80, for a total transaction of $505,880.40. Following the completion of the sale, the chief financial officer owned 774,052 shares in the company, valued at $10,681,917.60. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 646,658 shares of company stock worth $8,698,680. Company insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Aeva Technologies by 92.2% in the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after buying an additional 415 shares during the last quarter. Quantbot Technologies LP acquired a new position in Aeva Technologies in the second quarter valued at approximately $36,000. Jones Financial Companies Lllp boosted its position in Aeva Technologies by 27,345.0% in the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after purchasing an additional 5,469 shares in the last quarter. Total Investment Management Inc. acquired a new stake in shares of Aeva Technologies during the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC purchased a new position in shares of Aeva Technologies during the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.