Aeva Technologies, Inc. (NASDAQ:AEVA) Receives $26.50 Average Target Price from Brokerages

Aeva Technologies, Inc. (NASDAQ:AEVA) has received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.50.

A number of research analysts recently commented on AEVA shares. Wall Street Zen lowered shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aeva Technologies in a research note on Monday, December 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price objective on shares of Aeva Technologies in a research note on Thursday, December 4th.

Insiders Place Their Bets

In other news, CTO Mina Rezk sold 64,787 shares of Aeva Technologies 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 transaction, the chief technology officer owned 1,469,760 shares of the company’s stock, valued at $27,704,976. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Soroush Salehian Dardashti sold 64,787 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was 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 in the company, valued at $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. Over the last three months, insiders have sold 1,651,923 shares of company stock worth $22,904,227. 27.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Duquesne Family Office LLC acquired a new stake in shares of Aeva Technologies during the 3rd quarter valued at $26,670,000. Millennium Management LLC purchased a new stake in shares of Aeva Technologies during the third quarter valued at $25,751,000. Delta Global Management LP purchased a new stake in shares of Aeva Technologies during the third quarter valued at $18,139,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Aeva Technologies by 1,630.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,105,048 shares of the company’s stock valued at $41,760,000 after purchasing an additional 1,041,176 shares during the period. Finally, Invesco Ltd. increased its stake in Aeva Technologies by 1,223.8% in the 2nd quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock worth $23,219,000 after purchasing an additional 567,998 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

Aeva Technologies Stock Up 0.3%

AEVA stock opened at $14.40 on Monday. The company has a 50-day simple moving average of $14.76 and a 200 day simple moving average of $15.84. The company has a market capitalization of $865.15 million, a P/E ratio of -2.71 and a beta of 2.08. Aeva Technologies has a fifty-two week low of $2.52 and a fifty-two week high of $38.80.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Wednesday, November 5th. The company reported ($0.46) EPS for the quarter. The company had revenue of $3.58 million for the quarter. Aeva Technologies had a negative net margin of 1,031.15% and a negative return on equity of 603.21%. Equities analysts anticipate that Aeva Technologies will post -2.7 EPS for the current year.

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.