EVE (NYSE:EVEX) Trading Up 5.2% – Time to Buy?

Shares of Eve Holding, Inc. (NYSE:EVEX) were up 5.2% during mid-day trading on Wednesday . The company traded as high as $3.18 and last traded at $3.26. Approximately 11,559 shares changed hands during trading, a decline of 96% from the average daily volume of 261,854 shares. The stock had previously closed at $3.10.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EVEX shares. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective on shares of EVE in a research report on Friday, March 14th. Canaccord Genuity Group increased their price target on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of EVE in a report on Wednesday, March 12th. Finally, TD Cowen raised EVE to a “hold” rating in a research report on Thursday, December 19th.

EVE Price Performance

The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -7.07 and a beta of 0.45. The stock has a 50-day moving average price of $4.39 and a two-hundred day moving average price of $3.94.

EVE (NYSE:EVEX) last issued its earnings results on Friday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities research analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

A number of institutional investors have recently modified their holdings of EVEX. Geode Capital Management LLC raised its stake in shares of EVE by 65.4% during the 3rd quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock valued at $2,754,000 after buying an additional 336,133 shares during the last quarter. Northern Trust Corp raised its stake in shares of EVE by 89.7% during the 4th quarter. Northern Trust Corp now owns 420,000 shares of the company’s stock valued at $2,285,000 after buying an additional 198,627 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of EVE by 380.2% during the 4th quarter. JPMorgan Chase & Co. now owns 186,462 shares of the company’s stock valued at $1,014,000 after buying an additional 147,632 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of EVE by 63.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after buying an additional 129,300 shares during the last quarter. Finally, Connective Capital Management LLC purchased a new position in shares of EVE in the 4th quarter valued at about $500,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.