EVE (NYSE:EVEX) Shares Down 3.9% – Time to Sell?

Shares of Eve Holding, Inc. (NYSE:EVEX) were down 3.9% on Wednesday . The company traded as low as $3.88 and last traded at $3.95. Approximately 95,996 shares were traded 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 Analyst Weigh In

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

EVE Price Performance

The business’s 50 day moving average price is $3.25 and its 200-day moving average price is $3.53. 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 company has a market cap of $1.21 billion, a PE ratio of -8.46 and a beta of 0.37.

EVE (NYSE:EVEX) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same quarter in the previous year, the company posted ($0.11) EPS. As a group, analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On EVE

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of EVE by 7.1% in the first quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock worth $2,796,000 after buying an additional 34,484 shares during the last quarter. Blair William & Co. IL acquired a new position in EVE during the 2nd quarter worth $190,000. SG Americas Securities LLC acquired a new stake in shares of EVE in the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of EVE during the third quarter worth about $40,000. Finally, Charles Schwab Investment Management Inc. grew its stake in EVE by 63.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after purchasing an additional 129,300 shares in the last quarter. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Company Profile

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.