EVE (NYSE:EVEX) Stock Price Down 8.2% – What’s Next?

Shares of Eve Holding, Inc. (NYSE:EVEX) traded down 8.2% during mid-day trading on Wednesday . The company traded as low as $5.21 and last traded at $5.23. 65,469 shares changed hands during trading, a decline of 75% from the average session volume of 260,561 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

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

EVE Stock Performance

The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $4.16 and a two-hundred day moving average price of $3.50. The firm has a market cap of $1.58 billion, a PE ratio of -11.08 and a beta of 0.42.

EVE (NYSE:EVEX) last announced its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same quarter last year, the firm posted ($0.11) EPS. Research analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

A number of hedge funds have recently bought and sold shares of EVEX. SG Americas Securities LLC purchased a new stake in shares of EVE in the third quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in EVE in the 3rd quarter valued at $40,000. State Street Corp increased its stake in shares of EVE by 3.8% in the 3rd quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after acquiring an additional 13,700 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of EVE during the 3rd quarter worth $53,000. Finally, Readystate Asset Management LP acquired a new position in shares of EVE during the 3rd quarter valued at about $83,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.