Essex Investment Management Co. LLC Invests $610,000 in Aeva Technologies, Inc. $AEVA

Essex Investment Management Co. LLC purchased a new stake in shares of Aeva Technologies, Inc. (NASDAQ:AEVA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,064 shares of the company’s stock, valued at approximately $610,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Aeva Technologies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock valued at $96,000 after acquiring an additional 630 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Aeva Technologies by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,731 shares of the company’s stock worth $670,000 after purchasing an additional 808 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Aeva Technologies by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,467 shares of the company’s stock worth $433,000 after purchasing an additional 884 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Aeva Technologies in the second quarter worth $36,000. Finally, Total Investment Management Inc. bought a new position in shares of Aeva Technologies during the second quarter valued at $43,000. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 488,160 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $12.96, for a total transaction of $6,326,553.60. Following the completion of the sale, the chief executive officer directly owned 1,831,199 shares in the company, valued at approximately $23,732,339.04. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Saurabh Sinha sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $20.64, for a total transaction of $1,238,400.00. Following the sale, the chief financial officer directly owned 627,756 shares of the company’s stock, valued at approximately $12,956,883.84. This represents a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,080,299 shares of company stock worth $15,202,276 in the last quarter. Company insiders own 27.20% of the company’s stock.

Aeva Technologies Stock Performance

AEVA stock opened at $12.94 on Wednesday. The company has a market cap of $777.44 million, a price-to-earnings ratio of -2.43 and a beta of 2.09. The business’s 50-day moving average is $15.18 and its two-hundred day moving average is $14.88. Aeva Technologies, Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $38.80.

Analysts Set New Price Targets

Several equities research analysts recently commented on AEVA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aeva Technologies in a report on Monday, December 29th. Wall Street Zen downgraded shares of Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price objective on shares of Aeva Technologies in a report on Thursday, December 4th. Three equities 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.50.

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.