Aeva Technologies (NYSE:AEVA) Earns Buy Rating from Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group began coverage on shares of Aeva Technologies (NYSE:AEVA) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $9.50 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 32.50% from the company’s current price.

AEVA has been the subject of several other reports. Morgan Stanley lifted their target price on Aeva Technologies from $4.87 to $5.22 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Oppenheimer lifted their price objective on shares of Aeva Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.54.

Aeva Technologies Stock Down 1.2 %

AEVA opened at $7.17 on Tuesday. Aeva Technologies has a 52 week low of $2.20 and a 52 week high of $7.53. The business has a fifty day simple moving average of $4.12 and a 200-day simple moving average of $4.07. The firm has a market cap of $392.30 million, a P/E ratio of -2.32 and a beta of 1.41.

Insider Buying and Selling at Aeva Technologies

In other news, major shareholder Sylebra Capital Llc acquired 990,411 shares of Aeva Technologies stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $4.36 per share, for a total transaction of $4,318,191.96. Following the acquisition, the insider now owns 11,369,715 shares of the company’s stock, valued at $49,571,957.40. This trade represents a 9.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Soroush Salehian Dardashti sold 200,000 shares of Aeva Technologies stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total transaction of $1,072,000.00. Following the sale, the chief executive officer now directly owns 3,764,808 shares of the company’s stock, valued at approximately $20,179,370.88. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 4,213,506 shares of company stock valued at $24,985,345 and have sold 284,851 shares valued at $1,319,279. 29.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in Aeva Technologies by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 211,452 shares of the company’s stock worth $696,000 after purchasing an additional 8,007 shares during the last quarter. State Street Corp increased its stake in Aeva Technologies by 5.5% in the third quarter. State Street Corp now owns 452,309 shares of the company’s stock valued at $1,488,000 after purchasing an additional 23,593 shares during the last quarter. Barclays PLC raised its holdings in Aeva Technologies by 276.4% during the third quarter. Barclays PLC now owns 29,910 shares of the company’s stock worth $98,000 after purchasing an additional 21,964 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Aeva Technologies by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 611,873 shares of the company’s stock worth $2,013,000 after buying an additional 76,044 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Aeva Technologies in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 62.92% of the company’s stock.

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.