EVE (NYSE:EVEX) Stock Price Down 8.2% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EVEX. Canaccord Genuity Group increased their price objective on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVE in a report on Tuesday, November 5th. Finally, TD Cowen raised shares of EVE to a “hold” rating in a research note on Thursday, December 19th.

EVE Price Performance

The stock has a market cap of $1.58 billion, a PE ratio of -11.08 and a beta of 0.42. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $4.16 and a 200-day moving average of $3.50.

EVE (NYSE:EVEX) last posted 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 previous year, the business posted ($0.11) earnings per share. Sell-side analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in EVE in the third quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE in the 3rd quarter valued at approximately $40,000. Franklin Resources Inc. acquired a new stake in shares of EVE in the 3rd quarter valued at $53,000. Readystate Asset Management LP purchased a new stake in shares of EVE during the 3rd quarter worth $83,000. Finally, JPMorgan Chase & Co. grew its stake in shares of EVE by 296.2% during the third quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock worth $126,000 after purchasing an additional 29,029 shares in the last quarter. Hedge funds and other institutional investors 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.