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

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price dropped 7.8% during trading on Friday . The stock traded as low as $14.79 and last traded at $14.85. Approximately 323,089 shares changed hands during trading, a decline of 86% from the average daily volume of 2,343,131 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

Several research analysts have issued reports on AEVA shares. Weiss Ratings upgraded shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Aeva Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.50.

Aeva Technologies Trading Down 4.7%

The company’s 50 day simple moving average is $22.78 and its two-hundred day simple moving average is $17.75. The company has a quick ratio of 3.89, a current ratio of 4.09 and a debt-to-equity ratio of 7.32. The company has a market capitalization of $967.03 million, a price-to-earnings ratio of -3.07 and a beta of 2.40.

Aeva Technologies (NASDAQ:AEVA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.12. The business had revenue of $6.26 million for the quarter. As a group, research analysts anticipate that Aeva Technologies, Inc. will post -2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stephen Paul Zadesky sold 2,984 shares of Aeva Technologies stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $25.41, for a total value of $75,823.44. Following the completion of the sale, the director directly owned 92,898 shares in the company, valued at $2,360,538.18. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Saurabh Sinha sold 20,620 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $436,319.20. Following the sale, the chief financial officer directly owned 658,202 shares in the company, valued at approximately $13,927,554.32. This 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 have sold a total of 863,922 shares of company stock worth $20,034,803 over the last ninety days. Insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

A number of large investors have recently made changes to their positions in AEVA. Quantbot Technologies LP increased its position in shares of Aeva Technologies by 122.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,099 shares of the company’s stock valued at $30,000 after acquiring an additional 1,157 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Aeva Technologies during the 4th quarter worth about $33,000. Jones Financial Companies Lllp grew its stake 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 valued at $38,000 after purchasing an additional 5,469 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Aeva Technologies during the 4th quarter valued at about $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Aeva Technologies by 79.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,339 shares of the company’s stock valued at $58,000 after purchasing an additional 1,922 shares during the period. 62.92% of the stock is owned by hedge funds and other institutional investors.

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.