Oppenheimer Forecasts Strong Price Appreciation for Aeva Technologies (NYSE:AEVA) Stock

Aeva Technologies (NYSE:AEVA) had its price target upped by stock analysts at Oppenheimer from $5.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 92.93% from the stock’s previous close.

Aeva Technologies Price Performance

Shares of AEVA opened at $3.11 on Thursday. The stock has a market capitalization of $167.58 million, a PE ratio of -1.01 and a beta of 1.41. The business’s fifty day moving average price is $3.83 and its 200 day moving average price is $3.85. Aeva Technologies has a 12-month low of $2.20 and a 12-month high of $5.49.

Insider Activity at Aeva Technologies

In other Aeva Technologies news, CTO Mina Rezk sold 70,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.79, for a total value of $195,300.00. Following the sale, the chief technology officer now directly owns 8,696,669 shares in the company, valued at approximately $24,263,706.51. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen Paul Zadesky sold 14,851 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.50, for a total transaction of $51,978.50. Following the transaction, the director now owns 83,764 shares of the company’s stock, valued at $293,174. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parkwood LLC increased its stake in shares of Aeva Technologies by 415.7% in the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company’s stock valued at $6,776,000 after purchasing an additional 1,150,000 shares during the period. Jane Street Group LLC grew its holdings in Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company’s stock worth $3,082,000 after buying an additional 623,889 shares in the last quarter. Geode Capital Management LLC increased its position in Aeva Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 621,191 shares of the company’s stock valued at $2,951,000 after acquiring an additional 9,318 shares during the period. State Street Corp raised its stake in 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 acquiring an additional 23,593 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Aeva Technologies by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,376 shares of the company’s stock valued at $1,151,000 after acquiring an additional 30,924 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

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.