Aeva Technologies (NASDAQ:AEVA) Cut to “Strong Sell” at Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen downgraded shares of Aeva Technologies (NASDAQ:AEVA – Free Report) from a sell rating to a strong sell rating in a research note published on Saturday.
AEVA has been the topic of a number of other research reports. Morgan Stanley increased their price target on Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Aeva Technologies in a research note on Thursday. Weiss Ratings raised shares of Aeva Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Canaccord Genuity Group boosted their price target on shares of Aeva Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.67.
Check Out Our Latest Research Report on Aeva Technologies
Aeva Technologies Trading Down 11.0%
AEVA opened at $23.69 on Friday. 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 stock’s fifty day moving average is $21.49 and its two-hundred day moving average is $17.79. The company has a market capitalization of $1.49 billion, a P/E ratio of -8.68 and a beta of 2.47. Aeva Technologies has a 52 week low of $8.83 and a 52 week high of $31.30.
Insider Transactions at Aeva Technologies
In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 10,304 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $15.40, for a total transaction of $158,681.60. Following the sale, the chief executive officer owned 1,584,832 shares in the company, valued at approximately $24,406,412.80. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephen Paul Zadesky sold 2,984 shares of the stock in a transaction dated 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 transaction, the director directly owned 92,898 shares in the company, valued at $2,360,538.18. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 817,245 shares of company stock worth $19,342,658. 36.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Aeva Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Quantbot Technologies LP acquired a new stake in Aeva Technologies during the 2nd quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Aeva Technologies in the 4th quarter valued at $33,000. Daiwa Securities Group Inc. acquired a new stake in shares of Aeva Technologies in the second quarter worth $100,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aeva Technologies in the fourth quarter worth $47,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Aeva Technologies by 127.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,311 shares of the company’s stock worth $163,000 after purchasing an additional 2,419 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.
Aeva Technologies Company 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.