Craig Hallum Raises Aeva Technologies (NYSE:AEVA) Price Target to $6.00

Aeva Technologies (NYSE:AEVA) had its price target increased by Craig Hallum from $5.00 to $6.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 39.05% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Roth Mkm boosted their price objective on Aeva Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday. Westpark Capital reiterated a “hold” rating on shares of Aeva Technologies in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.53.

Aeva Technologies Stock Performance

NYSE:AEVA opened at $4.32 on Thursday. Aeva Technologies has a 52 week low of $2.20 and a 52 week high of $7.25. The company has a fifty day simple moving average of $3.40 and a two-hundred day simple moving average of $3.18.

Aeva Technologies (NYSE:AEVA) last released its earnings results on Wednesday, August 7th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.03. Aeva Technologies had a negative return on equity of 72.04% and a negative net margin of 2,018.56%. The firm had revenue of $2.01 million during the quarter, compared to analysts’ expectations of $1.58 million. Equities analysts expect that Aeva Technologies will post -2.75 EPS for the current year.

Insider Buying and Selling

In other Aeva Technologies news, CEO Soroush Salehian Dardashti sold 49,678 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $2.55, for a total value of $126,678.90. Following the transaction, the chief executive officer now directly owns 4,204,808 shares in the company, valued at $10,722,260.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds have recently made changes to their positions in the company. Magnetar Financial LLC acquired a new stake in shares of Aeva Technologies in the 1st quarter valued at about $633,000. Dimensional Fund Advisors LP acquired a new stake in shares of Aeva Technologies in the second quarter valued at approximately $118,000. Bank of New York Mellon Corp grew its position in shares of Aeva Technologies by 40.3% during the second quarter. Bank of New York Mellon Corp now owns 76,107 shares of the company’s stock worth $192,000 after acquiring an additional 21,865 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Aeva Technologies during the second quarter worth approximately $39,000. Finally, American Century Companies Inc. acquired a new position in shares of Aeva Technologies in the 2nd quarter valued at $38,000. 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.