EVE (NYSE:EVEX) Stock Price Down 4.5% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) was down 4.5% during trading on Thursday . The stock traded as low as $4.68 and last traded at $4.66. Approximately 73,303 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 304,412 shares. The stock had previously closed at $4.88.

Analyst Upgrades and Downgrades

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

EVE Trading Up 1.2 %

The firm has a market cap of $1.43 billion, a P/E ratio of -9.99 and a beta of 0.42. The firm’s fifty day moving average is $4.62 and its two-hundred day moving average is $3.61. 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 released its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. Analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of EVE

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of EVE by 112.6% during the 4th quarter. SG Americas Securities LLC now owns 22,651 shares of the company’s stock valued at $123,000 after buying an additional 11,996 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in EVE by 296.2% in the 3rd 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. Franklin Resources Inc. bought a new position in EVE in the 3rd quarter worth about $53,000. Barclays PLC boosted its stake in EVE by 594.1% in the 3rd 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. Finally, Geode Capital Management LLC boosted its stake in EVE by 65.4% in the 3rd quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock worth $2,754,000 after purchasing an additional 336,133 shares in the last quarter. Institutional investors own 1.27% of the company’s stock.

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.