Aeva Technologies (NYSE:AEVA) Trading Up 8.2%

Aeva Technologies, Inc. (NYSE:AEVA) shares were up 8.2% on Thursday . The company traded as high as $3.44 and last traded at $3.44. Approximately 224,084 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 303,015 shares. The stock had previously closed at $3.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AEVA shares. Craig Hallum reduced their price target on shares of Aeva Technologies from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Westpark Capital reaffirmed a “hold” rating on shares of Aeva Technologies in a report on Wednesday, August 7th. Finally, Roth Mkm reduced their target price on shares of Aeva Technologies from $7.50 to $5.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.03.

Aeva Technologies Stock Up 8.2 %

The business’s fifty day moving average price is $3.02 and its 200 day moving average price is $3.27. The firm has a market capitalization of $184.56 million, a PE ratio of -1.10 and a beta of 1.39.

Aeva Technologies (NYSE:AEVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.03. The firm had revenue of $2.01 million during the quarter, compared to analysts’ expectations of $1.58 million. Aeva Technologies had a negative net margin of 2,399.43% and a negative return on equity of 66.27%. On average, analysts anticipate that Aeva Technologies, Inc. will post -2.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Soroush Salehian Dardashti sold 49,678 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $2.55, for a total transaction of $126,678.90. Following the completion of the transaction, the chief executive officer now directly owns 4,204,808 shares of the company’s stock, valued at $10,722,260.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 34.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new position in Aeva Technologies during the first quarter worth about $633,000. BNP Paribas Financial Markets acquired a new position in Aeva Technologies during the first quarter worth about $31,000. Susquehanna Fundamental Investments LLC acquired a new position in Aeva Technologies during the first quarter worth about $58,000. Parkwood LLC grew its position in Aeva Technologies by 78.4% during the fourth quarter. Parkwood LLC now owns 609,825 shares of the company’s stock worth $462,000 after buying an additional 268,046 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in Aeva Technologies during the second quarter worth about $118,000. 62.92% of the stock is currently owned by institutional investors and hedge funds.

About Aeva Technologies

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.