EVE (NYSE:EVEX) Trading Down 4.5% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s share price was down 4.5% during mid-day trading on Thursday . The company traded as low as $4.68 and last traded at $4.66. Approximately 73,303 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 304,412 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EVEX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of EVE in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, TD Cowen raised shares of EVE to a “hold” rating in a research note on Thursday, December 19th.

EVE Stock Performance

The firm’s 50 day moving average is $4.56 and its two-hundred day moving average is $3.59. The stock has a market capitalization of $1.41 billion, a PE ratio of -9.86 and a beta of 0.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter in the previous year, the company earned ($0.11) earnings per share. As a group, research analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On EVE

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of EVE in the 3rd quarter valued at $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in EVE during the 3rd quarter worth $40,000. Franklin Resources Inc. acquired a new stake in EVE during the 3rd quarter worth $53,000. Readystate Asset Management LP acquired a new stake in EVE during the 3rd quarter worth $83,000. Finally, JPMorgan Chase & Co. boosted its stake in EVE by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock worth $126,000 after purchasing an additional 29,029 shares during the period. 1.27% of the stock is owned by hedge funds and other institutional investors.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.