Aeva Technologies (NASDAQ:AEVA) Releases Earnings Results

Aeva Technologies (NASDAQ:AEVA) released its quarterly earnings data on Wednesday. The company reported ($0.41) EPS for the quarter, FiscalAI reports.

Aeva Technologies Price Performance

Shares of Aeva Technologies stock traded down $0.82 during trading on Wednesday, hitting $19.61. The stock had a trading volume of 1,102,776 shares, compared to its average volume of 2,306,307. The company has a current ratio of 4.09, a quick ratio of 3.89 and a debt-to-equity ratio of 7.32. Aeva Technologies has a 12 month low of $8.83 and a 12 month high of $31.30. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.93 and a beta of 2.47. The business’s 50-day moving average is $21.81 and its 200 day moving average is $17.67.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

Insider Buying and Selling

In other Aeva Technologies news, CTO Mina Rezk sold 350,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $8,599,500.00. Following the transaction, the chief technology officer directly owned 1,706,669 shares in the company, valued at $41,932,857.33. This represents a 17.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Saurabh Sinha sold 20,620 shares of Aeva Technologies stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $436,319.20. Following the sale, the chief financial officer owned 658,202 shares of the company’s stock, valued at approximately $13,927,554.32. This trade represents a 3.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 817,245 shares of company stock worth $19,342,658 over the last ninety days. 36.70% of the stock is owned by corporate insiders.

Institutional Trading of Aeva Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Aeva Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,722 shares of the company’s stock worth $96,000 after acquiring an additional 630 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Aeva Technologies by 8.4% during the second 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 during the last quarter. Quantbot Technologies LP bought a new stake in Aeva Technologies during the second quarter worth about $36,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Aeva Technologies by 19.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the company’s stock worth $95,000 after purchasing an additional 1,159 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Aeva Technologies by 7.6% during the 4th quarter. MetLife Investment Management LLC now owns 20,001 shares of the company’s stock valued at $266,000 after purchasing an additional 1,409 shares during the last quarter. Hedge funds and other institutional investors 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.