EVE (NYSE:EVEX) Rating Lowered to “Strong Sell” at Wall Street Zen

EVE (NYSE:EVEX) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

EVE Price Performance

Shares of NYSE EVEX opened at $2.23 on Friday. The company has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $2.73. EVE has a fifty-two week low of $2.10 and a fifty-two week high of $5.16. The company has a market capitalization of $777.13 million, a price-to-earnings ratio of -3.60 and a beta of 1.14. The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EVEX. Corient Private Wealth LP bought a new position in shares of EVE during the second quarter valued at $28,000. California State Teachers Retirement System increased its holdings in EVE by 400.4% in the 2nd quarter. California State Teachers Retirement System now owns 330,045 shares of the company’s stock worth $828,000 after buying an additional 264,088 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in EVE in the 2nd quarter worth about $354,000. SPX Gestao de Recursos Ltda purchased a new position in EVE in the 2nd quarter worth about $1,041,000. Finally, Bank of America Corp DE purchased a new position in EVE in the 2nd quarter worth about $290,000. Hedge funds and other 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.