EVE (NYSE:EVEX) Trading 6.5% Higher – Still a Buy?

Eve Holding, Inc. (NYSE:EVEX) shares traded up 6.5% during trading on Monday . The company traded as high as $2.33 and last traded at $2.3210. 309,881 shares were traded during trading, a decline of 74% from the average session volume of 1,198,461 shares. The stock had previously closed at $2.18.

Analyst Upgrades and Downgrades

EVEX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Canaccord Genuity Group decreased their target price on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, EVE has an average rating of “Hold” and a consensus target price of $6.02.

EVE Trading Up 1.0%

The stock has a market cap of $851.61 million, a P/E ratio of -3.35 and a beta of 1.13. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 5.45. The stock’s fifty day moving average price is $2.77 and its 200 day moving average price is $3.08.

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

Hedge Funds Weigh In On EVE

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG boosted its position in shares of EVE by 56.9% in the 4th quarter. UBS Group AG now owns 799,049 shares of the company’s stock worth $3,188,000 after purchasing an additional 289,813 shares in the last quarter. BW Gestao de Investimentos Ltda. increased its position in EVE by 49.7% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after buying an additional 1,223,719 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in EVE during the 4th quarter valued at approximately $2,471,000. Strs Ohio purchased a new position in EVE during the first quarter valued at $75,000. Finally, CIBC Asset Management Inc purchased a new position in EVE during the fourth quarter valued at $75,000. Institutional investors own 1.27% of the company’s stock.

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.