EVE (NYSE:EVEX) Reaches New 1-Year Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $1.99 and last traded at $2.0350, with a volume of 76141 shares trading hands. The stock had previously closed at $2.08.

Analyst Upgrades and Downgrades

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

EVE Price Performance

The company’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.65. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65. The stock has a market capitalization of $730.08 million, a PE ratio of -3.36 and a beta of 1.14.

EVE (NYSE:EVEX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.08. On average, equities analysts anticipate that Eve Holding, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of EVE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new position in shares of EVE during the 2nd quarter worth about $25,000. Corient Private Wealth LP purchased a new stake in EVE in the second quarter valued at approximately $28,000. Themes Management Co LLC acquired a new position in EVE during the first quarter worth approximately $30,000. Pallas Capital Advisors LLC acquired a new position in EVE during the second quarter worth approximately $30,000. Finally, R Squared Ltd acquired a new position in EVE during the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.