Aeva Technologies (NYSE:AEVA) Coverage Initiated at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Aeva Technologies (NYSE:AEVA) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $9.50 price objective on the stock.

Several other equities analysts have also recently commented on AEVA. Oppenheimer boosted their target price on Aeva Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, March 20th. Morgan Stanley boosted their price objective on Aeva Technologies from $4.87 to $5.22 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.54.

Aeva Technologies Stock Performance

Aeva Technologies stock opened at $7.26 on Tuesday. Aeva Technologies has a fifty-two week low of $2.20 and a fifty-two week high of $7.53. The stock has a market cap of $397.22 million, a P/E ratio of -2.35 and a beta of 1.41. The firm’s fifty day moving average price is $4.07 and its 200-day moving average price is $4.05.

Insider Buying and Selling at Aeva Technologies

In other Aeva Technologies news, major shareholder Sylebra Capital Llc purchased 990,411 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $4.36 per share, with a total value of $4,318,191.96. Following the completion of the purchase, the insider now owns 11,369,715 shares of the company’s stock, valued at $49,571,957.40. The trade was a 9.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Paul Zadesky sold 14,851 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.50, for a total transaction of $51,978.50. Following the completion of the sale, the director now directly owns 83,764 shares of the company’s stock, valued at $293,174. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 4,213,506 shares of company stock worth $24,985,345 and have sold 284,851 shares worth $1,319,279. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AEVA. Charles Schwab Investment Management Inc. lifted its stake in shares of Aeva Technologies by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 211,452 shares of the company’s stock valued at $696,000 after acquiring an additional 8,007 shares during the last quarter. State Street Corp increased its stake in Aeva Technologies by 5.5% in the 3rd quarter. State Street Corp now owns 452,309 shares of the company’s stock worth $1,488,000 after purchasing an additional 23,593 shares during the period. Barclays PLC lifted its position in Aeva Technologies by 276.4% in the third quarter. Barclays PLC now owns 29,910 shares of the company’s stock valued at $98,000 after purchasing an additional 21,964 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Aeva Technologies by 14.2% during the third quarter. Geode Capital Management LLC now owns 611,873 shares of the company’s stock valued at $2,013,000 after purchasing an additional 76,044 shares during the period. Finally, PFG Investments LLC bought a new position in shares of Aeva Technologies in the fourth quarter worth approximately $48,000. 62.92% of the stock is owned by institutional investors.

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.