EVE (NYSE:EVEX) Trading Down 5% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) fell 5% during mid-day trading on Friday . The stock traded as low as $5.09 and last traded at $5.03. 13,635 shares changed hands during trading, a decline of 95% from the average session volume of 273,330 shares. The stock had previously closed at $5.29.

Wall Street Analysts Forecast Growth

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

EVE Stock Down 1.3 %

The firm’s fifty day moving average price is $4.77 and its two-hundred day moving average price is $3.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -10.82 and a beta of 0.42.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter in the prior year, the business posted ($0.11) EPS. Sell-side analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of EVE

Several institutional investors and hedge funds have recently made changes to their positions in EVEX. SG Americas Securities LLC purchased a new position in shares of EVE in the 3rd quarter worth about $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in EVE in the third quarter valued at about $40,000. Franklin Resources Inc. bought a new position in shares of EVE during the 3rd quarter valued at approximately $53,000. Readystate Asset Management LP purchased a new stake in shares of EVE during the 3rd quarter worth approximately $83,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 during the period. Hedge funds and other 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.