Aeva Technologies (AEVA) Surges 8.6%: Is This an Indication of Further Gains?

Aeva Technologies, Inc. (AEVA) shares soared 8.6% in the last trading session to close at $7.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 156.4% gain over the past four weeks.Aeva shares have surged, driven by strong product execution and expanding market opportunities, including partnership with Sensys Gatso Australia to supply its 4D LiDAR technology for mobile speed enforcement to enhance road safety. Highlighting the company’s potential, Canaccord recently initiated coverage on Aeva with a Buy rating, calling the company a key player in the emerging robotics revolution.This company is expected to post quarterly loss of $0.47 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $2.2 million, up 4.3% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Aeva Technologies, the consensus EPS estimate for the quarter has been revised 20.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AEVA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Aeva Technologies belongs to the Zacks Automotive - Original Equipment industry. Another stock from the same industry, Aptiv PLC (APTV), closed the last trading session 1.3% higher at $50.74. Over the past month, APTV has returned -20%.For APTIV HLDS LTD, the consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $1.53. This represents a change of +31.9% from what the company reported a year ago. APTIV HLDS LTD currently has a Zacks Rank of #3 (Hold).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Aeva Technologies, Inc. (AEVA): Free Stock Analysis Report Aptiv PLC (APTV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks