EVE (NYSE:EVEX) Trading Down 6.1% – Time to Sell?

Eve Holding, Inc. (NYSE:EVEX)’s stock price was down 6.1% on Monday . The stock traded as low as $4.22 and last traded at $4.2060. Approximately 138,561 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 946,867 shares. The stock had previously closed at $4.48.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Canaccord Genuity Group lifted their price target on EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a report on Wednesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of EVE in a research report on Monday, November 24th. JPMorgan Chase & Co. decreased their price objective on EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group started coverage on EVE in a research report on Monday, December 1st. They set a “neutral” rating and a $4.84 target price for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.47.

EVE Trading Down 6.7%

The business has a 50 day moving average of $4.39 and a two-hundred day moving average of $4.69. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -6.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.91, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Equities analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Trading of EVE

Hedge funds have recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new position in EVE during the fourth quarter worth about $54,000. SG Americas Securities LLC purchased a new stake in shares of EVE during the 4th quarter valued at approximately $45,000. Polar Asset Management Partners Inc. bought a new position in EVE in the 3rd quarter worth approximately $2,568,000. Heights Capital Management Inc. purchased a new position in EVE in the 3rd quarter valued at approximately $2,652,000. Finally, Aureus Asset Management LLC raised its holdings in EVE by 56.0% during the 3rd quarter. Aureus Asset Management LLC now owns 19,500 shares of the company’s stock valued at $74,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 1.27% of the company’s stock.

EVE Company Profile

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.