EVE (NYSE:EVEX) Trading Down 3.9% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s share price was down 3.9% during trading on Wednesday . The company traded as low as $3.88 and last traded at $3.95. Approximately 95,996 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 147,628 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVEX. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of EVE in a report on Tuesday, November 5th. HC Wainwright started coverage on EVE in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 target price for the company.

EVE Price Performance

The business has a 50 day simple moving average of $3.25 and a 200-day simple moving average of $3.53. The company has a market capitalization of $1.21 billion, a P/E ratio of -8.46 and a beta of 0.37. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last posted its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter last year, the business earned ($0.11) EPS. Analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in EVE in the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of EVE in the 3rd quarter worth approximately $40,000. Franklin Resources Inc. acquired a new position in shares of EVE during the third quarter valued at approximately $53,000. Readystate Asset Management LP acquired a new position in shares of EVE during the third quarter valued at approximately $83,000. Finally, Barclays PLC raised its holdings in EVE by 594.1% during the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after purchasing an additional 37,602 shares in the last quarter. 1.27% of the stock is owned by institutional investors.

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.