EVE (NYSE:EVEX) Stock Price Up 15.2% Following Better-Than-Expected Earnings

Eve Holding, Inc. (NYSE:EVEX)’s stock price was up 15.2% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $1.7450 and last traded at $1.8090. Approximately 482,589 shares changed hands during trading, a decline of 58% from the average daily volume of 1,143,500 shares. The stock had previously closed at $1.57.

The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02.

Wall Street Analyst Weigh In

EVEX has been the subject of a number of recent analyst reports. D. Boral Capital began coverage on EVE in a report on Friday, August 21st. They set a “buy” rating and a $6.00 price target for the company. Jefferies Financial Group set a $5.00 price objective on EVE in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Monday, October 19th. Wall Street Zen cut EVE from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Finally, JPMorgan Chase & Co. boosted their target price on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVEX. BlackRock Inc. purchased a new stake in shares of EVE in the 2nd quarter valued at about $17,742,000. Kapitalo Investimentos Ltda acquired a new stake in shares of EVE in the 2nd quarter valued at about $2,761,000. SPX Gestao de Recursos Ltda purchased a new position in EVE during the 2nd quarter worth approximately $1,041,000. Renaissance Technologies LLC purchased a new position in EVE during the 1st quarter worth approximately $854,000. Finally, Ieq Capital LLC purchased a new position in EVE during the 2nd quarter worth approximately $685,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

EVE Stock Up 15.2%

The stock has a market cap of $630.41 million, a PE ratio of -2.91 and a beta of 1.25. The business has a 50 day moving average of $1.88 and a 200-day moving average of $2.63. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65.

About EVE

Eve Air Mobility, formerly known as Eve Holding, Inc, develops electric vertical takeoff and landing (eVTOL) aircraft and related urban air mobility solutions. The company is focused on creating quieter, lower-emission transportation options for short urban and regional trips, including passenger flights, airport transfers and other specialized missions.

Its primary product is an eVTOL aircraft designed to operate using electric propulsion and vertical takeoff and landing capabilities.