Melqart Asset Management UK Ltd Has $7.27 Million Stake in Aeva Technologies, Inc. $AEVA

Melqart Asset Management UK Ltd raised its stake in Aeva Technologies, Inc. (NASDAQ:AEVA) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,436 shares of the company’s stock after acquiring an additional 170,096 shares during the quarter. Melqart Asset Management UK Ltd owned approximately 0.91% of Aeva Technologies worth $7,270,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AEVA. Quantbot Technologies LP increased its position in 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 purchasing an additional 1,157 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its position in Aeva Technologies by 27,345.0% in the first quarter. Jones Financial Companies Lllp now owns 5,489 shares of the company’s stock valued at $38,000 after buying an additional 5,469 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeva Technologies during the fourth quarter worth $49,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Aeva Technologies by 79.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock worth $58,000 after buying an additional 1,922 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Aeva Technologies

In related news, CEO Soroush Salehian Dardashti sold 41,083 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $15.04, for a total value of $617,888.32. Following the completion of the sale, the chief executive officer directly owned 1,725,329 shares in the company, valued at $25,948,948.16. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Mina Rezk sold 27,389 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was 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 approximately $21,693,259.84. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 74,115 shares of company stock worth $1,114,690. 36.70% of the stock is currently owned by company insiders.

Aeva Technologies Stock Down 10.9%

NASDAQ:AEVA opened at $23.93 on Wednesday. Aeva Technologies, Inc. has a one year low of $8.83 and a one year high of $38.80. The company has a debt-to-equity ratio of 7.32, a current ratio of 4.09 and a quick ratio of 3.89. The company has a market cap of $1.51 billion, a PE ratio of -4.80 and a beta of 2.41. The firm’s 50 day simple moving average is $19.49 and its 200 day simple moving average is $16.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.33.

Aeva Technologies 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.