EVE (NYSE:EVEX) Sees Large Volume Increase – Still a Buy?

Shares of Eve Holding, Inc. (NYSE:EVEX) saw strong trading volume on Monday . 196,729 shares traded hands during trading, an increase of 41% from the previous session’s volume of 139,238 shares.The stock last traded at $3.73 and had previously closed at $3.35.

Wall Street Analyst Weigh In

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

EVE Stock Up 20.3 %

The company has a market capitalization of $1.20 billion, a PE ratio of -7.87 and a beta of 0.37. The stock’s fifty day moving average is $3.16 and its two-hundred day moving average is $3.54. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42.

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

Institutional Trading of EVE

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of EVE in the third quarter worth $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in EVE in the 3rd quarter worth about $40,000. Readystate Asset Management LP purchased a new stake in shares of EVE in the 3rd quarter valued at about $83,000. Barclays PLC grew its holdings in shares of EVE by 594.1% during the third 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, Blair William & Co. IL purchased a new position in shares of EVE during the second quarter valued at approximately $190,000. 1.27% of the stock is currently owned by institutional investors.

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.