EVE (NYSE:EVEX) Shares Down 4.8% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX) shares were down 4.8% during mid-day trading on Friday . The stock traded as low as $3.36 and last traded at $3.34. Approximately 126,254 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 219,622 shares. The stock had previously closed at $3.51.

Wall Street Analyst Weigh In

EVEX has been the topic of a number of analyst reports. Canaccord Genuity Group upped their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of EVE in a report on Friday, March 14th. TD Cowen upgraded shares of EVE to a “hold” rating in a report on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of EVE in a research note on Wednesday, March 12th.

EVE Stock Performance

The business’s fifty day moving average price is $4.31 and its 200-day moving average price is $3.93. The stock has a market cap of $1.01 billion, a PE ratio of -7.08 and a beta of 0.45. 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 posted its earnings results on Friday, March 14th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities research analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of EVE during the 3rd quarter valued at about $40,000. Charles Schwab Investment Management Inc. grew its position in EVE by 63.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after buying an additional 129,300 shares during the period. Readystate Asset Management LP bought a new stake in EVE during the third quarter valued at approximately $83,000. State Street Corp increased its holdings in EVE by 3.8% during the third quarter. State Street Corp now owns 378,123 shares of the company’s stock valued at $1,225,000 after buying an additional 13,700 shares during the last quarter. Finally, Barclays PLC raised its position in EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after acquiring an additional 37,602 shares during the period. Institutional investors own 1.27% of the company’s stock.

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.