Short Interest in Aeva Technologies, Inc. (NYSE:AEVA) Expands By 33.7%

Aeva Technologies, Inc. (NYSE:AEVA - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,730,000 shares, a growth of 33.7% from the March 15th total of 2,790,000 shares. Approximately 11.6% of the company's stock are short sold. Based on an average daily volume of 792,900 shares, the days-to-cover ratio is currently 4.7 days.

Insiders Place Their Bets

In related news, CTO Mina Rezk sold 88,916 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $7.61, for a total value of $676,650.76. Following the transaction, the chief technology officer now owns 8,546,669 shares of the company's stock, valued at approximately $65,040,151.09. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc purchased 990,411 shares of the business's stock in a transaction on Monday, March 24th. The shares were bought at an average price of $4.36 per share, with a total value of $4,318,191.96. Following the purchase, the insider now directly owns 11,369,715 shares in the company, valued at approximately $49,571,957.40. The trade was a 9.54 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,213,506 shares of company stock worth $24,985,345 and sold 527,079 shares worth $3,000,979. Corporate insiders own 29.10% of the company's stock.

Institutional Trading of Aeva Technologies

Hedge funds have recently made changes to their positions in the company. PFG Investments LLC purchased a new stake in Aeva Technologies in the 4th quarter worth about $48,000. Intech Investment Management LLC purchased a new position in shares of Aeva Technologies in the fourth quarter worth about $52,000. Squarepoint Ops LLC bought a new stake in shares of Aeva Technologies in the fourth quarter valued at approximately $54,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Aeva Technologies in the fourth quarter valued at approximately $63,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Aeva Technologies during the 4th quarter valued at approximately $78,000. 62.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AEVA shares. Oppenheimer lifted their target price on Aeva Technologies from $6.00 to $9.00 and gave the company an "outperform" rating in a research report on Monday. Morgan Stanley upped their target price on shares of Aeva Technologies from $4.87 to $5.22 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Finally, Canaccord Genuity Group assumed coverage on Aeva Technologies in a research report on Tuesday, April 1st. They set a "buy" rating and a $9.50 price target for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Aeva Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $7.14.

Aeva Technologies Trading Up 9.1 %

Shares of NYSE:AEVA traded up $0.56 during mid-day trading on Wednesday, reaching $6.74. The company had a trading volume of 1,055,849 shares, compared to its average volume of 471,565. Aeva Technologies has a one year low of $2.20 and a one year high of $8.12. The company's 50-day moving average price is $5.06 and its 200-day moving average price is $4.50. The firm has a market cap of $368.77 million, a price-to-earnings ratio of -2.18 and a beta of 1.03.

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.