EVE (NYSE:EVEX) Trading Up 7.7% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) shares were up 7.7% during trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.99. Approximately 53,608 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 305,442 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

EVEX has been the subject of several recent research reports. TD Cowen upgraded shares of EVE to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group lifted their target price on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of EVE in a report on Tuesday, November 5th.

EVE Price Performance

The company has a market cap of $1.41 billion, a P/E 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. The firm’s fifty day moving average is $4.56 and its two-hundred day moving average is $3.59.

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

Institutional Trading of EVE

Hedge funds have recently made changes to their positions in the business. Blair William & Co. IL purchased a new stake in EVE in the 2nd quarter worth about $190,000. SG Americas Securities LLC purchased a new stake in EVE in the 3rd quarter worth about $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in EVE in the 3rd quarter worth about $40,000. Charles Schwab Investment Management Inc. raised its position in EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after purchasing an additional 129,300 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in EVE in the 3rd quarter worth about $83,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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.