Sylebra Capital LLC has significantly increased its stake in Aeva Technologies, Inc. (NYSE:AEVA) with a series of stock purchases totaling approximately $23.3 million. The transactions occurred over several days, with shares acquired at prices ranging from $6.15 to $6.77 each. According to InvestingPro data, the stock has shown remarkable momentum, delivering a 192% return over the past year and maintaining a strong liquidity position with a current ratio of 3.15.
On March 27, Sylebra acquired 1,157,742 shares at $6.15 per share, followed by an additional purchase of 1,333,188 shares at $6.70 each on March 28. The acquisition spree concluded on March 31 with the purchase of 1,068,297 shares at $6.77 per share. These transactions have increased Sylebra’s total holdings in Aeva Technologies to over 16.2 million shares. With the company’s market capitalization at $557.53 million and its next earnings report due on May 14, investors can access comprehensive analysis and 17 additional key insights through InvestingPro.
Sylebra Capital LLC acts as the investment sub-adviser to several affiliated investment entities, which now hold these securities. Daniel Patrick Gibson, Chief Investment Officer of Sylebra and newly appointed director of Aeva Technologies effective May 1, 2025, is associated with these acquisitions. However, Sylebra and Gibson disclaim beneficial ownership of the securities, except for any pecuniary interest. The company holds more cash than debt on its balance sheet, though InvestingPro analysis indicates the stock is currently trading in overbought territory.
In other recent news, Aeva Technologies has reported several notable developments. The company has announced the appointment of Daniel Gibson to its Board of Directors, effective May 1, 2025. Gibson, who is the Founder and Chief Investment Officer of Sylebra Capital Management, has a longstanding association with Aeva and brings significant experience in technology investments. Additionally, Aeva has appointed finance veteran Katherine Motlagh to its board, aiming to leverage her extensive experience in the automotive and industrial sectors as the company gears up for mass production.
In terms of market activities, Oppenheimer has maintained an Outperform rating on Aeva Technologies with a $6.00 price target, highlighting the company’s progress in customer engagements and new market segments. Canaccord analyst George Gianarikas initiated coverage on Aeva with a buy rating and a price target of $9.50, citing the growing adoption of autonomous driving technology as a key driver. Aeva’s 4D LiDAR technology has also been selected by Sensys Gatso Australia for mobile speed enforcement solutions, enhancing road safety through its integration into speed detection products. These recent developments reflect Aeva’s ongoing efforts to expand its presence and applications in various sectors.
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