Aeva Technologies (NYSE:AEVA) Price Target Raised to $6.00

Aeva Technologies (NYSE:AEVA) had its price objective boosted by Roth Mkm from $5.00 to $6.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on AEVA. Craig Hallum reduced their price target on Aeva Technologies from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Westpark Capital reissued a “hold” rating on shares of Aeva Technologies in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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. The firm’s fifty day moving average price is $3.42 and its two-hundred day moving average price is $3.19. The stock has a market cap of $231.77 million, a PE ratio of -1.40 and a beta of 1.37. Aeva Technologies has a fifty-two week low of $2.20 and a fifty-two week high of $7.25.

Aeva Technologies (NYSE:AEVA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.03. The business had revenue of $2.01 million for the quarter, compared to analyst estimates of $1.58 million. Aeva Technologies had a negative return on equity of 72.04% and a negative net margin of 2,018.56%. As a group, sell-side analysts predict that Aeva Technologies will post -2.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Soroush Salehian Dardashti sold 49,678 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $2.55, for a total value of $126,678.90. Following the sale, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AEVA. Magnetar Financial LLC acquired a new stake in Aeva Technologies during the 1st quarter worth about $633,000. Dimensional Fund Advisors LP acquired a new stake in Aeva Technologies during the second quarter worth approximately $118,000. Bank of New York Mellon Corp increased its holdings in Aeva Technologies by 40.3% in the second quarter. Bank of New York Mellon Corp now owns 76,107 shares of the company’s stock worth $192,000 after purchasing an additional 21,865 shares in the last quarter. Sei Investments Co. acquired a new position in Aeva Technologies in the second quarter valued at approximately $39,000. Finally, American Century Companies Inc. acquired a new position in Aeva Technologies in the second quarter valued at approximately $38,000. Institutional investors and hedge funds 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.