EVE (NYSE:EVEX) Sees Large Volume Increase on Analyst Upgrade

Eve Holding, Inc. (NYSE:EVEX) shares saw an uptick in trading volume on Monday after Canaccord Genuity Group raised their price target on the stock from $6.75 to $7.00. Canaccord Genuity Group currently has a buy rating on the stock. Approximately 148,345 shares changed hands during trading, a decline of 1% from the previous session’s volume of 149,755 shares.The stock last traded at $4.31 and had previously closed at $4.19.

Several other brokerages have also recently commented on EVEX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVE in a report on Tuesday, November 5th. HC Wainwright began coverage on shares of EVE in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price objective on the stock.

Institutional Investors Weigh In On EVE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVEX. Geode Capital Management LLC lifted its stake in shares of EVE by 65.4% in the 3rd quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock valued at $2,754,000 after purchasing an additional 336,133 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 129,300 shares in the last quarter. Blair William & Co. IL bought a new position in shares of EVE in the second quarter valued at about $190,000. Barclays PLC lifted its position in EVE by 594.1% during the 3rd quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after buying an additional 37,602 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in EVE by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock worth $2,796,000 after acquiring an additional 34,484 shares during the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Stock Up 2.9 %

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 50-day simple moving average is $3.28 and its two-hundred day simple moving average is $3.49. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -9.33 and a beta of 0.53.

EVE (NYSE:EVEX) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same period last year, the business posted ($0.11) EPS. On average, sell-side analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

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.