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Sylebra Capital LLC, a significant stakeholder in Aeva Technologies, Inc. (NYSE:AEVA), recently increased its holdings in the company through a series of transactions. The timing appears strategic, as InvestingPro data shows AEVA has delivered impressive returns of 128% over the past six months. According to a Form 4 filing with the Securities and Exchange Commission, Sylebra Capital acquired a total of 3,558,227 shares of Aeva Technologies’ common stock over three separate purchases.
The transactions occurred on March 27, March 28, and March 31, with share prices ranging from $6.15 to $6.77. The total value of these acquisitions amounted to approximately $23.28 million. Following these purchases, Sylebra Capital now holds 16,228,553 shares in Aeva Technologies, representing a significant portion of the company’s $367.13 million market capitalization. While the company maintains strong liquidity with a current ratio of 3.15 and more cash than debt, InvestingPro analysis reveals 15+ additional key insights available to subscribers.
Sylebra Capital, which is led by Daniel Patrick Gibson, plays a significant role in the investment decisions of several affiliated funds and entities. The firm has stated that it may share voting and dispositive power over the securities held by these entities. According to InvestingPro’s Fair Value analysis, AEVA currently appears to be trading near its Fair Value, making this institutional investment particularly noteworthy.
In other recent news, Aeva Technologies reported its financial results for the fourth quarter of 2024, with a full-year revenue of $9.1 million and a consistent non-GAAP operating loss of $123.2 million. The company has set a revenue target of $15-18 million for 2025, indicating a projected growth of 70-100% from the previous year. Aeva has also been selected as the exclusive supplier of LiDAR technology for Sensys Gatso Australia’s mobile speed enforcement solutions, marking a significant partnership aimed at enhancing road safety. Additionally, Morgan Stanley (NYSE:MS) adjusted its outlook on Aeva, raising the price target to $5.22 while maintaining an Equalweight rating, highlighting the company’s progress and potential market impact.
The company announced the appointment of Katherine Motlagh to its Board of Directors, aiming to leverage her financial expertise as Aeva prepares for mass production. Furthermore, Aeva unveiled its advanced Atlas (NYSE:ATCO) Ultra LiDAR at CES, which is expected to enhance its strategic partnerships, including those with Daimler (OTC:MBGAF) Truck and SICK AG. These developments reflect Aeva’s commitment to advancing its 4D LiDAR technology across various applications. Overall, Aeva’s recent activities underscore its strategic focus on growth and innovation in the LiDAR technology sector.
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