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MOUNTAIN VIEW, CA—Mina Rezk, the Chief Technology Officer at Aeva Technologies, Inc. (NYSE:AEVA), recently sold a significant portion of the company’s stock. The transaction comes as the company’s shares have shown remarkable strength, posting a 140% return over the past year according to InvestingPro data. According to a Form 4 filing with the Securities and Exchange Commission, Rezk sold 88,916 shares of Aeva Technologies’ common stock on April 15. The shares were sold at a weighted average price of $7.6111, amounting to a total transaction value of $676,748. The sale represents a small portion of Aeva’s $427 million market capitalization, with the company maintaining a strong balance sheet featuring more cash than debt.
The sale was executed in multiple transactions, with prices ranging from $7.50 to $7.81 per share. Following this transaction, Rezk’s indirect ownership, held by trust, now stands at 8,546,669 shares. Additionally, Rezk directly owns 663,590 shares of the company.
This transaction is part of a 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks in a manner that avoids insider trading accusations.
In other recent news, Aeva Technologies has been the focus of several significant developments. Oppenheimer has maintained its Outperform rating on Aeva, setting a price target of $6.00, following positive discussions with the company’s management about customer engagements and market expansion. The firm is optimistic about Aeva’s potential for design wins and revenue growth, projecting substantial revenue from various sectors, including automotive and industrial applications, over the next five years. Canaccord initiated a buy rating for Aeva with a price target of $9.50, highlighting the company’s strong position in the LiDAR technology market and its recent development program award from a major auto OEM. Morgan Stanley (NYSE:MS) also updated its outlook, increasing Aeva’s price target to $5.22 while maintaining an Equalweight rating, citing the company’s progress and potential for significant market impact.
Additionally, Aeva has appointed finance expert Katherine Motlagh to its Board of Directors, leveraging her extensive experience to support the company’s growth strategy. In a strategic partnership, Aeva’s 4D LiDAR technology has been selected by Sensys Gatso Australia for mobile speed enforcement solutions, aiming to enhance road safety with advanced sensing capabilities. These developments underscore Aeva’s ongoing efforts to expand its technology’s applications and secure a strong position in the market.
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