EVE (NYSE:EVEX) Trading 7.7% Higher – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s share price traded up 7.7% on Tuesday . The company traded as high as $4.97 and last traded at $4.99. 53,608 shares were traded during trading, a decline of 82% from the average session volume of 305,442 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

EVEX has been the topic of several recent analyst reports. TD Cowen upgraded shares of EVE to a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVE in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their price target 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.

EVE Stock Up 5.7 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -10.21 and a beta of 0.42. The firm’s 50-day simple moving average is $4.49 and its 200-day simple moving average is $3.57.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same quarter last year, the business earned ($0.11) earnings per share. Sell-side analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Several institutional investors have recently made changes to their positions in EVEX. SG Americas Securities LLC acquired a new stake in shares of EVE during the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in EVE during the 3rd quarter valued at about $40,000. Franklin Resources Inc. bought a new position in EVE during the 3rd quarter valued at about $53,000. Readystate Asset Management LP bought a new position in EVE during the 3rd quarter valued at about $83,000. Finally, JPMorgan Chase & Co. lifted its holdings in EVE by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock valued at $126,000 after purchasing an additional 29,029 shares during the last quarter. 1.27% of the stock is currently owned by institutional investors and hedge funds.

About EVE

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.