Aeva Technologies (NASDAQ:AEVA) Shares Up 11.5% – What’s Next?

Aeva Technologies, Inc. (NASDAQ:AEVA) shares were up 11.5% on Monday . The company traded as high as $13.94 and last traded at $13.83. Approximately 889,453 shares traded hands during trading, a decline of 79% from the average daily volume of 4,222,650 shares. The stock had previously closed at $12.40.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Aeva Technologies in a research report on Thursday, December 4th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Aeva Technologies Stock Up 12.9%

The firm has a market cap of $841.12 million, a price-to-earnings ratio of -2.63 and a beta of 2.09. The firm has a fifty day moving average price of $15.07 and a 200-day moving average price of $15.01.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 64,787 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $27,704,976. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $18.85, for a total transaction of $1,221,234.95. Following the completion of the sale, the chief executive officer owned 1,766,412 shares of the company’s stock, valued at approximately $33,296,866.20. The trade was a 3.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,080,299 shares of company stock valued at $15,202,276. Insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP increased its holdings in shares of Aeva Technologies by 122.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock worth $30,000 after buying an additional 1,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Aeva Technologies during the fourth quarter valued at about $33,000. Jones Financial Companies Lllp grew its position in Aeva Technologies by 27,345.0% during the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after acquiring an additional 5,469 shares during the period. Total Investment Management Inc. purchased a new position in shares of Aeva Technologies in the 2nd quarter worth about $43,000. Finally, AlphaQuest LLC purchased a new position in shares of Aeva Technologies in the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 62.92% of the company’s stock.

About Aeva Technologies

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.