Eve Holding, Inc. (NYSE:EVEX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Eve Holding, Inc. (NYSE:EVEX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.93.

EVEX has been the topic of a number of research reports. D. Boral Capital initiated coverage on EVE in a research note on Friday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. JPMorgan Chase & Co. raised their price target on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group set a $5.00 price target on EVE in a research report on Wednesday, August 5th. Wall Street Zen cut EVE from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st.

EVE Price Performance

Shares of EVEX stock opened at $1.68 on Friday. The firm’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.55. The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48. EVE has a one year low of $1.40 and a one year high of $5.16.

EVE (NYSE:EVEX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. On average, research analysts forecast that EVE will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On EVE

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in EVE in the 2nd quarter valued at about $25,000. Arizona State Retirement System lifted its position in shares of EVE by 37.7% during the second quarter. Arizona State Retirement System now owns 26,430 shares of the company’s stock worth $66,000 after purchasing an additional 7,235 shares in the last quarter. Corient Private Wealth LP acquired a new stake in shares of EVE during the second quarter worth about $28,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of EVE during the second quarter worth about $354,000. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of EVE in the second quarter valued at approximately $1,041,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.