Aeva Technologies (NASDAQ:AEVA) Trading Down 7.7% Following Insider Selling

Aeva Technologies, Inc. (NASDAQ:AEVA)’s share price dropped 7.7% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $12.70 and last traded at $12.75. Approximately 1,259,884 shares were traded during trading, a decline of 29% from the average daily volume of 1,769,541 shares. The stock had previously closed at $13.81.

Specifically, CEO Soroush Salehian Dardashti sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $13.45, for a total value of $2,690,000.00. Following the sale, the chief executive officer directly owned 2,134,808 shares of the company’s stock, valued at approximately $28,713,167.60. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mina Rezk sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $13.48, for a total value of $3,370,000.00. Following the completion of the sale, the chief technology officer directly owned 3,236,669 shares in the company, valued at approximately $43,630,298.12. The trade was a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

AEVA has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Aeva Technologies from $11.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Canaccord Genuity Group raised their price objective on Aeva Technologies from $9.50 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Oppenheimer raised their price objective on Aeva Technologies from $18.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Roth Capital raised their price objective on Aeva Technologies from $17.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Finally, Wall Street Zen upgraded Aeva Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Aeva Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Aeva Technologies Stock Down 3.8%

The firm has a market cap of $748.06 million, a PE ratio of -2.41 and a beta of 1.94. The firm has a 50-day moving average price of $24.45 and a two-hundred day moving average price of $13.42.

Aeva Technologies (NASDAQ:AEVA) last released its earnings results on Thursday, July 31st. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The firm had revenue of $5.51 million during the quarter, compared to analysts’ expectations of $3.40 million. Aeva Technologies had a negative net margin of 2,178.31% and a negative return on equity of 287.71%. Research analysts forecast that Aeva Technologies, Inc. will post -2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aeva Technologies

A number of institutional investors have recently added to or reduced their stakes in AEVA. GAMMA Investing LLC lifted its position in Aeva Technologies by 92.2% during the second quarter. GAMMA Investing LLC now owns 865 shares of the company’s stock worth $33,000 after buying an additional 415 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Aeva Technologies in the second quarter valued at $36,000. Jones Financial Companies Lllp raised 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 purchasing an additional 5,469 shares during the period. AlphaQuest LLC purchased a new stake in Aeva Technologies in the second quarter valued at $51,000. Finally, Squarepoint Ops LLC purchased a new stake in Aeva Technologies in the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Aeva Technologies Company Profile

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.