Aeva Technologies (NASDAQ:AEVA) Shares Down 7.3% – Here’s What Happened

Aeva Technologies, Inc. (NASDAQ:AEVA) was down 7.3% on Monday . The stock traded as low as $16.81 and last traded at $16.95. Approximately 544,532 shares changed hands during trading, a decline of 76% from the average daily volume of 2,289,697 shares. The stock had previously closed at $18.29.

Analyst Upgrades and Downgrades

AEVA has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating and set a $42.00 price target on shares of Aeva Technologies in a report on Thursday, August 6th. Wall Street Zen lowered Aeva Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings cut Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Finally, Morgan Stanley raised their target price on Aeva Technologies from $18.50 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aeva Technologies has an average rating of “Hold” and an average price target of $28.75.

Aeva Technologies Trading Down 8.8%

The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -6.11 and a beta of 2.47. The business’s fifty day moving average is $21.09 and its two-hundred day moving average is $18.23.

Insider Buying and Selling at Aeva Technologies

In other news, CEO Soroush Salehian Dardashti sold 225,349 shares of Aeva Technologies stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $5,536,824.93. Following the completion of the sale, the chief executive officer directly owned 1,659,957 shares of the company’s stock, valued at approximately $40,785,143.49. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Saurabh Sinha sold 70,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total value of $1,484,700.00. Following the sale, the chief financial officer owned 581,372 shares of the company’s stock, valued at approximately $12,330,900.12. The trade was a 10.75% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,292,344 shares of company stock worth $30,568,186. Insiders own 36.70% of the company’s stock.

Institutional Trading of Aeva Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Aeva Technologies by 29.2% during the 1st quarter. AQR Capital Management LLC now owns 20,849 shares of the company’s stock worth $146,000 after buying an additional 4,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $96,000 after buying an additional 630 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 during the period. Prudential Financial Inc. bought a new position in Aeva Technologies in the second quarter valued at approximately $446,000. Finally, Russell Investments Group Ltd. bought a new position in Aeva Technologies in the second quarter valued at approximately $1,239,000. 62.92% of the stock is owned by 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.