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

Shares of Eve Holding, Inc. (NYSE:EVEX) were up 8.4% during trading on Thursday . The stock traded as high as $5.00 and last traded at $4.9650. Approximately 232,393 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 703,336 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on EVE in a research report on Monday, December 1st. They issued a “neutral” rating and a $4.84 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of EVE in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price objective on EVE from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Canaccord Genuity Group increased their target price on EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.47.

EVE Price Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $1.74 billion, a P/E ratio of -7.70 and a beta of 0.83. The firm’s fifty day moving average is $4.36 and its 200 day moving average is $4.99.

EVE (NYSE:EVEX) last announced its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. As a group, analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Amundi boosted its position in EVE by 10.7% in the 3rd quarter. Amundi now owns 30,426 shares of the company’s stock valued at $116,000 after buying an additional 2,941 shares during the period. Arizona State Retirement System boosted its holdings in shares of EVE by 17.6% in the third quarter. Arizona State Retirement System now owns 20,436 shares of the company’s stock valued at $78,000 after purchasing an additional 3,063 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after purchasing an additional 3,121 shares during the period. AXQ Capital LP grew its stake in EVE by 32.6% in the third quarter. AXQ Capital LP now owns 14,211 shares of the company’s stock worth $54,000 after purchasing an additional 3,490 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in EVE by 13.1% during the 3rd quarter. Bank of America Corp DE now owns 43,324 shares of the company’s stock worth $165,000 after purchasing an additional 5,025 shares during the period. 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.