EVE (NYSE:EVEX) Trading Down 3.9% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

EVE Stock Performance

The company has a market cap of $1.21 billion, a P/E ratio of -8.56 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. The stock’s 50-day moving average price is $3.21 and its 200 day moving average price is $3.52.

EVE (NYSE:EVEX) last announced 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 quarter in the prior year, the business posted ($0.11) earnings per share. As a group, research analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in EVE during the third quarter worth about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in EVE during the third quarter worth about $40,000. Franklin Resources Inc. bought a new stake in EVE during the third quarter worth about $53,000. Readystate Asset Management LP bought a new stake in EVE during the third quarter worth about $83,000. Finally, Barclays PLC grew its stake 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 buying an additional 37,602 shares during the last quarter. 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.