Aeva Technologies (NASDAQ:AEVA) Shares Down 7.8% – Time to Sell?

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) were down 7.8% during mid-day trading on Tuesday . The stock traded as low as $17.75 and last traded at $17.93. Approximately 235,209 shares were traded during trading, a decline of 90% from the average daily volume of 2,389,886 shares. The stock had previously closed at $19.45.

Analyst Ratings Changes

AEVA has been the topic of a number of research reports. Wall Street Zen downgraded Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Aeva Technologies Price Performance

The stock has a 50 day moving average of $15.43 and a two-hundred day moving average of $14.46. The company has a debt-to-equity ratio of 7.32, a quick ratio of 3.89 and a current ratio of 4.09. The stock has a market cap of $1.33 billion, a PE ratio of -4.23 and a beta of 2.20.

Insider Transactions at Aeva Technologies

In other news, CTO Mina Rezk sold 27,389 shares of Aeva Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.04, for a total value of $411,930.56. Following the transaction, the chief technology officer directly owned 1,442,371 shares of the company’s stock, valued at $21,693,259.84. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Saurabh Sinha sold 32,079 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $13.94, for a total transaction of $447,181.26. Following the completion of the sale, the chief financial officer owned 595,677 shares of the company’s stock, valued at approximately $8,303,737.38. This trade represents a 5.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 106,194 shares of company stock valued at $1,561,871 over the last ninety days. Corporate insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

A number of hedge funds have recently modified their holdings of AEVA. Quantbot Technologies LP grew its holdings in shares of 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 buying an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Aeva Technologies in the 4th quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in 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 acquiring an additional 5,469 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Aeva Technologies during the 4th quarter valued at about $47,000. Finally, Daiwa Securities Group Inc. grew its stake in Aeva Technologies by 79.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after acquiring an additional 1,922 shares in the last quarter. Hedge funds and other institutional investors 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.