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

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Aeva Technologies (NYSE:AEVA) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $9.50 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 35.71% from the company’s current price.

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

Aeva Technologies Price Performance

Shares of AEVA opened at $7.00 on Tuesday. Aeva Technologies has a one year low of $2.20 and a one year high of $7.12. The company has a market cap of $383.00 million, a PE ratio of -2.27 and a beta of 1.41. The stock has a 50-day moving average of $4.01 and a 200-day moving average of $4.02.

Insider Transactions at Aeva Technologies

In other news, 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 value of $51,978.50. Following the completion of the sale, the director now owns 83,764 shares in the company, valued at $293,174. This represents a 15.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Mina Rezk sold 70,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.79, for a total transaction of $195,300.00. Following the completion of the sale, the chief technology officer now owns 8,696,669 shares of the company’s stock, valued at approximately $24,263,706.51. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 4,213,506 shares of company stock valued at $24,985,345 and sold 284,851 shares valued at $1,319,279. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Aeva Technologies

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