Aeva Technologies, Inc. (AEVA) stock is up 7.49% in the pre-market trading session at the price of $9.90 despite any recent news.
AEVA Stock Announced Second Quarter 2021 Results
On 12th August 2021, AEVA stock published its second-quarter 2021 earnings report. Revenue was $2.6 million in the second quarter of 2021. For the second quarter of 2020, revenue was $1.6 million. GAAP operating loss of $24.7 million was reported in the second quarter of 2021. GAAP operating loss was $5.0 million in the same quarter of 2020. Weighted average shares outstanding was 211.6 million in the second quarter of 2021.
CEO of AEVA stock, Soroush Salehian, remarked that they continue to build on high momentum across multiple fronts. They are driving forward with automotive collaborations across programs and growing into new markets. Their notable milestone is a strategic collaboration with Nikon to expedite the adoption of its industry-first FMCW 4D LiDAR for high precision industrial automation and metrology applications. They have already achieved a number of their 2021 objectives in this quarter. They will keep on making progress to deliver their remaining goals for this year, he added.
AEVA Stock Collaborated with Nikon to Bring 4D LiDAR
On 10th August 2021, AEVA stock declared a strategic collaboration with Nikon Corporation. Nikon is a global manufacturer and supplier of metrology and inspection equipment for the industrial automation and metrology markets. Both companies will cooperate on Frequency Modulated Continuous Wave (FMCW) 4D LiDAR with unique micron-level measurement capability. It will soon launch into high precision industrial automation and metrology markets.
CEO of Nikon, Tadashi Nakayama, remarked that they are pleased with the opportunity to use AEVA’s ground-breaking technology to bring it to market metrology solutions. It will provide their industrial customers with unmatched functionality, lower cost, more compact, and superior performance than current solutions.
Inclusion in Russell 2000 Index
On 9th June 2021, AEVA stock declared inclusion into the small-cap Russell 2000® Index and broad-market Russell 3000 Index. Also, it has joined the appropriate growth and value style indexes. The inclusion became effective on 28th June 2021, after the 2021 Russell indexes annual reconstitution. The Russell 3000 Index is a market-capitalization index composed of 3,000 US stocks. The Russell 1000 Index is a subset that comprises 1,000 largest companies. Meanwhile, the Russell 2000 Index is a subset that includes the 2,000 smallest companies. Membership in the Russell US indexes is based essentially on objectives, market-capitalization, and style attributes determined by FTSE Russell. Russell indexes are broadly used by investment managers and institutional investors for index funds and as the benchmark for active investment strategies. About $10.6 trillion in assets are benchmarked against Russell’s US indexes.
