EVE (NYSE:EVEX) Trading Up 5.2% – Time to Buy?

Shares of Eve Holding, Inc. (NYSE:EVEX) shot up 5.2% during mid-day trading on Wednesday . The stock traded as high as $3.18 and last traded at $3.26. 11,559 shares were traded during mid-day trading, a decline of 96% from the average session volume of 261,854 shares. The stock had previously closed at $3.10.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EVEX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of EVE in a report on Friday, March 14th. TD Cowen upgraded EVE to a “hold” rating in a report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of EVE in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group lifted their price objective on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

EVE Trading Up 9.8 %

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.07 and a beta of 0.45. The company has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $3.94. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last issued its earnings results on Friday, March 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. As a group, research analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its holdings in EVE by 257.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock valued at $29,000 after acquiring an additional 3,850 shares during the last quarter. Legal & General Group Plc raised its position in EVE by 118.0% in the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock valued at $30,000 after purchasing an additional 3,001 shares during the period. BNP Paribas Financial Markets purchased a new stake in EVE in the fourth quarter valued at approximately $34,000. Invesco Ltd. purchased a new stake in EVE in the fourth quarter valued at approximately $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in EVE in the third quarter valued at approximately $40,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

About EVE

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.