Aeva Technologies (NASDAQ:AEVA) Trading Down 8.2% – Here’s Why

Aeva Technologies, Inc. (NASDAQ:AEVA)’s stock price traded down 8.2% during trading on Wednesday . The stock traded as low as $15.61 and last traded at $16.15. 2,350,180 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 7,463,995 shares. The stock had previously closed at $17.59.

Analyst Ratings Changes

AEVA has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Canaccord Genuity Group restated a “buy” rating and set a $24.00 price objective 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 report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Aeva Technologies Stock Performance

The stock has a market cap of $1.01 billion, a P/E ratio of -3.17 and a beta of 2.08. The stock’s fifty day simple moving average is $13.12 and its 200-day simple moving average is $17.23.

Aeva Technologies (NASDAQ:AEVA) last announced its earnings results on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter. The business had revenue of $3.58 million for the quarter. Aeva Technologies had a negative return on equity of 603.21% and a negative net margin of 1,031.15%. As a group, equities research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current year.

Insider Buying and Selling at Aeva Technologies

In other news, CTO Mina Rezk sold 321,723 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $12.96, for a total transaction of $4,169,530.08. Following the completion of the sale, the chief technology officer directly owned 1,534,547 shares in the company, valued at approximately $19,887,729.12. This represents a 17.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Saurabh Sinha sold 48,086 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $9.97, for a total value of $479,417.42. Following the completion of the transaction, the chief financial officer owned 720,512 shares in the company, valued at $7,183,504.64. The trade was a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,441,740 shares of company stock valued at $18,834,878 in the last three months. Corporate insiders own 27.20% of the company’s stock.

Institutional Trading of Aeva Technologies

Several large investors have recently made changes to their positions in the company. Quantbot Technologies LP raised its position in Aeva Technologies by 122.8% during the third quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after purchasing an additional 1,157 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Aeva Technologies by 92.2% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock valued at $33,000 after purchasing an additional 415 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Aeva Technologies by 27,345.0% during the 1st quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock worth $38,000 after buying an additional 5,469 shares in the last quarter. Total Investment Management Inc. bought a new stake in shares of Aeva Technologies during the 2nd quarter worth $43,000. Finally, AlphaQuest LLC bought a new stake in shares of Aeva Technologies during the 2nd quarter worth $51,000. 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.