EVE (NYSE:EVEX) Earns Buy Rating from Canaccord Genuity Group

EVE (NYSE:EVEX)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research report issued on Wednesday,Benzinga reports. They currently have a $7.50 target price on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 191.26% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVE in a research note on Monday, February 9th. The Goldman Sachs Group began coverage on shares of EVE in a research note on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.47.

EVE Stock Performance

EVE stock opened at $2.58 on Wednesday. The business has a 50 day moving average of $3.56 and a 200-day moving average of $4.02. The company has a market capitalization of $896.89 million, a P/E ratio of -3.73 and a beta of 0.88. EVE has a 1 year low of $2.56 and a 1 year high of $7.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 5.21 and a quick ratio of 5.21.

EVE (NYSE:EVEX) last posted its earnings results on Monday, March 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). On average, equities research analysts predict that EVE will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in EVE by 144.8% during the 2nd 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. Canal Insurance CO bought a new stake in shares of EVE in the 3rd quarter valued at $38,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of EVE in the 2nd quarter valued at $69,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE during the third quarter worth $42,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EVE during the fourth quarter worth $45,000. Institutional investors and hedge funds 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.