EVE (NYSE:EVEX) Shares Down 4.9% – Here’s Why

Shares of Eve Holding, Inc. (NYSE:EVEX) fell 4.9% on Thursday . The stock traded as low as $4.42 and last traded at $4.42. 159,788 shares were traded during mid-day trading, a decline of 1% from the average session volume of 161,203 shares. The stock had previously closed at $4.65.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EVEX shares. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of EVE in a research report on Tuesday, November 5th. HC Wainwright began coverage on EVE in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, TD Cowen upgraded shares of EVE to a “hold” rating in a research report on Thursday.

EVE Trading Up 8.4 %

The business has a 50 day moving average of $3.66 and a two-hundred day moving average of $3.43. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -10.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter last year, the firm earned ($0.11) EPS. Equities analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake 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 period. Blair William & Co. IL purchased a new position in shares of EVE in the 2nd quarter worth about $190,000. Readystate Asset Management LP bought a new position in EVE during the third quarter valued at about $83,000. SG Americas Securities LLC purchased a new stake in EVE during the third quarter worth about $35,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in EVE in the third quarter worth about $40,000. 1.27% of the stock is owned by institutional investors.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.