• Aeva Technologies (AEVA) is revolutionizing autonomy with its innovative LiDAR technology.
• AEVA has shown strong technical indicators, trading above its daily moving averages.
• Aeva has a 100% technical “Buy” signal and has gained 165.39% since March 21.

Today’s Featured Stock:

Valued at $612 million, Aeva Technologies (AEVA) is transforming autonomy with its groundbreaking sensing and perception technology that integrates key LiDAR components onto a silicon photonics chip in a compact module. 

What I’m Watching:

I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipchart feature to review the charts for consistent price appreciation. AEVA checks those boxes.

Since the Trend Seeker signaled a “Buy” on March 21, the stock has gained 165.39%.

On the chart, you can note that the stock is trading above all of its daily moving averages and has rising prices on steady volume.

AEVA Price vs. Daily Moving Averages:

Barchart Technical Indicators for AEVA:

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

When a stock is trading above all of its daily moving averages and at its 52-week high, it won’t take much to hit another new high.

• AEVA has a 100% technical “Buy” signal.
• The stock closed at $11.12 on May 9 at its 52-week high. The stock set a new high in morning trading on May 12.
• AEVA has a Weighted Alpha of +80.28.
• The stock has gained 251.6% over the past year.
• Trend Seeker “Buy” signal intact.
• AEVA is trading above its 20, 50 and 100-day moving averages.
• The stock has made 6 new highs and is up 60.7% in the last month.
• The 14-day Relative Strength Index is at 78.81%.
• The technical support level is at $10.51.

Follow the Fundamentals:

• $612 million market cap.
• Revenue is expected to grow 72.62% this year and another 195.99% next year.
• Earnings are estimated to increase 8.02% this year and an additional 13.76% next year.

Analyst and Investor Sentiment on Aeva:

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.

It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are moderately bullish on this stock.

• Wall Street analysts tracked by Barchart issued four “Strong Buy” and one “Hold” opinions on the stock.
• Value Line gives the stock its highest rating.
• CFRA’s MarketScope gives the stock a “Hold” rating
• MorningStar thinks the stock is 6% overvalued.
• Of the 38 individual investors following the stock on Motley Fool, 34 think the stock will beat the market and four think it won't.
• 6,630 investors monitor the stock on Seeking Alpha, which rates the stock a “Strong Buy.”

The Bottom Line:

Currently Aeva Technologies has momentum and support from both the market and individual investors, but it faces competition from rivals Luminar Technologies and MicroVision.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.