Short Interest in Aeva Technologies, Inc. (NYSE:AEVA) Decreases By 5.9%

Aeva Technologies, Inc. (NYSE:AEVA) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 1,920,000 shares, a decrease of 5.9% from the May 31st total of 2,040,000 shares. Currently, 5.6% of the company’s shares are sold short. Based on an average trading volume of 250,700 shares, the days-to-cover ratio is presently 7.7 days.

Wall Street Analyst Weigh In

AEVA has been the topic of several research reports. Morgan Stanley upped their price target on Aeva Technologies to $5.10 and gave the company an “equal weight” rating in a research note on Tuesday, March 19th. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price target on shares of Aeva Technologies in a research note on Wednesday, March 6th. Finally, Craig Hallum dropped their price objective on Aeva Technologies from $10.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.92.

Institutional Investors Weigh In On Aeva Technologies

Several large investors have recently modified their holdings of AEVA. BNP Paribas Financial Markets bought a new stake in shares of Aeva Technologies in the first quarter worth about $31,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Aeva Technologies in the first quarter worth about $58,000. Parkwood LLC increased its holdings in shares of Aeva Technologies by 78.4% in the fourth quarter. Parkwood LLC now owns 609,825 shares of the company’s stock worth $462,000 after acquiring an additional 268,046 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Aeva Technologies in the first quarter worth about $633,000. Finally, Sylebra Capital LLC bought a new stake in shares of Aeva Technologies in the third quarter worth about $20,730,000. 62.92% of the stock is currently owned by institutional investors.

Aeva Technologies Stock Performance

NYSE AEVA opened at $2.30 on Thursday. The stock has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $4.00. Aeva Technologies has a 12 month low of $2.24 and a 12 month high of $7.25.

Aeva Technologies (NYSE:AEVA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02. The business had revenue of $2.11 million during the quarter, compared to the consensus estimate of $1.70 million. Aeva Technologies had a negative return on equity of 58.54% and a negative net margin of 2,835.99%. As a group, equities analysts predict that Aeva Technologies will post -2.75 earnings per share for the current year.

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.