EVE (NYSE:EVEX) Stock Price Down 6.4% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX)’s share price fell 6.4% on Monday . The company traded as low as $2.33 and last traded at $2.2650. Approximately 55,104 shares traded hands during trading, a decline of 95% from the average session volume of 1,199,901 shares. The stock had previously closed at $2.42.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group dropped their target price on EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Finally, Cantor Fitzgerald dropped their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.02.

EVE Price Performance

The stock has a market cap of $795.88 million, a price-to-earnings ratio of -3.14 and a beta of 1.13. The company’s 50 day moving average is $2.88 and its 200 day moving average is $3.18. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Research analysts forecast that Eve Holding, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

A number of institutional investors and hedge funds have recently modified their holdings of EVEX. Amundi increased its stake 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 purchasing an additional 2,941 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after purchasing an additional 3,121 shares during the last quarter. Bank of America Corp DE raised its holdings in EVE by 13.1% during the third 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 last quarter. SG Americas Securities LLC boosted its position in EVE by 52.3% during the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock worth $42,000 after purchasing an additional 5,840 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in EVE by 47.0% in the fourth quarter. Invesco Ltd. now owns 20,038 shares of the company’s stock valued at $80,000 after purchasing an additional 6,403 shares during the last quarter. Institutional investors and hedge funds own 1.27% of the company’s stock.

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.