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

Wall Street Zen lowered shares of EVE (NYSE:EVEX) from a sell rating to a strong sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

EVEX has been the subject of a number of other reports. Jefferies Financial Group set a $5.00 price objective on shares of EVE in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, D. Boral Capital initiated coverage on EVE in a research note on Friday, August 21st. They issued a “buy” rating and a $6.00 price target for the company. Four analysts have rated the stock with a Buy rating, one has given 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 “Moderate Buy” and an average target price of $5.93.

EVE Trading Up 0.9%

NYSE:EVEX opened at $1.72 on Friday. The company has a market cap of $597.66 million, a P/E ratio of -2.77 and a beta of 1.19. EVE has a twelve month low of $1.67 and a twelve month high of $5.16. The business has a 50 day moving average price of $2.31 and a two-hundred day moving average price of $2.59. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 13.65.

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

Institutional Trading of EVE

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in EVE in the 2nd quarter valued at about $17,742,000. Kapitalo Investimentos Ltda bought a new stake in shares of EVE during the second quarter worth approximately $2,761,000. SPX Gestao de Recursos Ltda acquired a new position in shares of EVE in the second quarter valued at approximately $1,041,000. Renaissance Technologies LLC acquired a new position in shares of EVE in the first quarter valued at approximately $854,000. Finally, HITE Hedge Asset Management LLC bought a new position in shares of EVE during the fourth quarter worth approximately $2,471,000. 1.27% of the stock is owned by institutional investors and hedge funds.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.