EVE (NYSE:EVEX) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of EVE (NYSE:EVEX) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. D. Boral Capital assumed coverage on shares of EVE in a research note on Friday, August 21st. They issued a “buy” rating and a $6.00 target price for the company. Finally, Jefferies Financial Group set a $5.00 target price on EVE in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, EVE presently has an average rating of “Moderate Buy” and an average price target of $5.93.

EVE Trading Up 5.5%

NYSE:EVEX opened at $2.21 on Friday. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. The business’s 50-day simple moving average is $2.39 and its 200-day simple moving average is $2.64. EVE has a fifty-two week low of $1.99 and a fifty-two week high of $5.16. The stock has a market capitalization of $768.42 million, a PE ratio of -3.56 and a beta of 1.14.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. Sell-side analysts expect that EVE will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of EVE in the second quarter valued at approximately $25,000. Arizona State Retirement System lifted its position in shares of EVE by 37.7% in the second quarter. Arizona State Retirement System now owns 26,430 shares of the company’s stock worth $66,000 after purchasing an additional 7,235 shares in the last quarter. Corient Private Wealth LP acquired a new position in EVE during the second quarter worth $28,000. Susquehanna Fundamental Investments LLC acquired a new position in EVE during the second quarter worth $354,000. Finally, SPX Gestao de Recursos Ltda bought a new position in EVE in the second quarter valued at $1,041,000. 1.27% of the stock is owned by institutional investors.

About EVE

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.