EVE (NYSE:EVEX) Trading Down 4.5% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) shares traded down 4.5% on Thursday . The company traded as low as $4.68 and last traded at $4.66. 73,303 shares were traded during mid-day trading, a decline of 76% from the average session volume of 304,412 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a report on Monday, December 2nd. TD Cowen raised shares of EVE to a “hold” rating in a report on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of EVE in a report on Tuesday, November 5th.

EVE Stock Down 3.0 %

The firm has a market cap of $1.41 billion, a PE ratio of -9.86 and a beta of 0.42. The business’s 50 day moving average price is $4.56 and its 200 day moving average price is $3.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21.

EVE (NYSE:EVEX) last released its earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter in the previous year, the firm posted ($0.11) EPS. On average, equities research analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently bought and sold shares of EVEX. Blair William & Co. IL acquired a new position in EVE during the second quarter worth about $190,000. SG Americas Securities LLC acquired a new position in EVE in the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in EVE in the 3rd quarter valued at about $40,000. Charles Schwab Investment Management Inc. boosted its holdings in EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after purchasing an additional 129,300 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new position in EVE in the 3rd quarter valued at about $83,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.