Why Aeva Technologies Stock Is Higher Today

Shares of lidar maker Aeva Technologies (NYSE: AEVA) were trading sharply higher on Friday following its first-ever quarterly report as a public company. While the company's revenue total remains small, it now has plenty of cash. And it provided some intriguing updates on its efforts to move into the automotive space. 

As of 12:15 p.m. EDT today, Aeva's shares were up about 16.3% from Thursday's closing price.

Aeva reported its first-quarter results after the U.S. markets closed on Thursday, and they were good. While the company's adjusted operating loss widened to $15.6 million versus $6.1 million in the first quarter of 2020, Aeva made significant progress in the quarter:

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Source Fool.com