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

Canaccord Genuity Group began coverage on shares of Aeva Technologies (NYSE:AEVA - Free Report) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $9.50 price target on the stock.

A number of other equities research analysts also recently issued reports on AEVA. Oppenheimer lifted their price target on shares of Aeva Technologies from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, March 20th. Morgan Stanley lifted 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.54.

Aeva Technologies Trading Up 2.0 %

Shares of AEVA traded up $0.14 during trading hours on Tuesday, reaching $7.31. The company had a trading volume of 912,026 shares, compared to its average volume of 421,378. Aeva Technologies has a 12-month low of $2.20 and a 12-month high of $7.53. The firm has a 50 day simple moving average of $4.12 and a 200-day simple moving average of $4.07. The company has a market capitalization of $399.96 million, a price-to-earnings ratio of -2.37 and a beta of 1.41.

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Insider Activity

In related 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 completion of the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen Paul Zadesky sold 14,851 shares of Aeva Technologies stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.50, for a total value of $51,978.50. Following the sale, the director now owns 83,764 shares of the company's stock, valued at approximately $293,174. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 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.

Hedge Funds Weigh In On Aeva Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. PFG Investments LLC purchased a new stake in Aeva Technologies in the 4th quarter worth approximately $48,000. Intech Investment Management LLC purchased a new stake in shares of Aeva Technologies in the fourth quarter valued at $52,000. Squarepoint Ops LLC acquired a new position in Aeva Technologies in the fourth quarter valued at $54,000. Susquehanna Fundamental Investments LLC acquired a new stake in Aeva Technologies in the 4th quarter worth about $63,000. Finally, Advisory Services Network LLC acquired a new stake in Aeva Technologies in the 4th quarter worth about $78,000. Hedge funds and other institutional investors 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.