EVE (NYSE:EVEX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of EVE (NYSE:EVEX) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Canaccord Genuity Group lowered their target price on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group set a $5.00 target price on EVE in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.82.

EVE Trading Up 5.3%

EVEX stock opened at $2.76 on Friday. The company has a market capitalization of $961.31 million, a PE ratio of -4.45 and a beta of 1.14. EVE has a one year low of $2.10 and a one year high of $6.18. The company’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $2.92. The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.80 and a current ratio of 3.48.

EVE (NYSE:EVEX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. As a group, analysts predict that EVE will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EVEX. R Squared Ltd purchased a new stake in shares of EVE in the 1st quarter worth about $30,000. Themes Management Co LLC purchased a new position in shares of EVE during the first quarter valued at about $30,000. Pallas Capital Advisors LLC purchased a new position in shares of EVE during the second quarter valued at about $30,000. Deltec Asset Management LLC bought a new position in EVE in the first quarter worth about $33,000. Finally, BNP Paribas Financial Markets raised its stake in EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares in the last quarter. 1.27% of the stock is currently owned by institutional investors.

About EVE

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.