EVE (NYSE:EVEX) Stock Price Down 8.4% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s stock price traded down 8.4% on Wednesday . The stock traded as low as $2.60 and last traded at $2.62. 124,720 shares were traded during trading, a decline of 89% from the average session volume of 1,185,983 shares. The stock had previously closed at $2.86.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group set a $5.00 price objective on shares of EVE in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.82.

EVE Stock Up 5.9%

The business has a fifty day moving average of $2.62 and a 200 day moving average of $2.92. The firm has a market cap of $966.53 million, a P/E ratio of -4.48 and a beta of 1.14. The company has a quick ratio of 3.80, a current ratio of 3.48 and a debt-to-equity ratio of 13.65.

EVE (NYSE:EVEX) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.08. On average, equities research analysts predict that Eve Holding, Inc. will post -0.73 EPS for the current year.

Institutional Trading of EVE

Hedge funds have recently modified their holdings of the company. UBS Group AG increased its stake in EVE by 56.9% during the 4th quarter. UBS Group AG now owns 799,049 shares of the company’s stock worth $3,188,000 after purchasing an additional 289,813 shares in the last quarter. BW Gestao de Investimentos Ltda. lifted its stake in EVE by 49.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after buying an additional 1,223,719 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in EVE in the fourth quarter valued at approximately $2,471,000. Deltec Asset Management LLC acquired a new position in shares of EVE in the first quarter valued at approximately $33,000. Finally, J. Derek Lewis & Associates Inc. acquired a new position in shares of EVE in the fourth quarter valued at approximately $128,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

EVE Company Profile

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.