EVE (NYSE:EVEX) Trading Down 3.1% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX) dropped 3.1% on Tuesday . The company traded as low as $4.74 and last traded at $4.68. Approximately 19,731 shares changed hands during trading, a decline of 92% from the average daily volume of 248,817 shares. The stock had previously closed at $4.83.

Analysts Set New Price Targets

Several research firms have issued reports on EVEX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVE in a research note on Friday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of EVE in a research report on Wednesday, March 12th.

EVE Stock Down 4.1%

The company’s 50 day moving average price is $3.62 and its 200 day moving average price is $4.10. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -9.65 and a beta of 0.53. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last posted its earnings results on Monday, May 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, research analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in EVE by 167.8% during the first quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock worth $174,000 after buying an additional 32,868 shares during the period. Itau Unibanco Holding S.A. purchased a new position in EVE in the 1st quarter valued at approximately $79,000. EntryPoint Capital LLC grew its stake in shares of EVE by 54.5% in the first quarter. EntryPoint Capital LLC now owns 43,471 shares of the company’s stock worth $144,000 after acquiring an additional 15,341 shares in the last quarter. American Century Companies Inc. increased its position in shares of EVE by 1,292.4% during the first quarter. American Century Companies Inc. now owns 379,694 shares of the company’s stock worth $1,261,000 after acquiring an additional 352,424 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of EVE in the first quarter valued at $313,000. 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.