EVE (NYSE:EVEX) Reaches New 1-Year Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.34 and last traded at $2.3250, with a volume of 2160877 shares changing hands. The stock had previously closed at $2.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EVEX shares. Canaccord Genuity Group decreased their price target on shares of EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Cantor Fitzgerald decreased their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, EVE currently has a consensus rating of “Hold” and a consensus price target of $6.02.

EVE Stock Performance

The company has a 50-day moving average of $2.95 and a 200-day moving average of $3.35. The firm has a market capitalization of $844.63 million, a price-to-earnings ratio of -3.30 and a beta of 1.09. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 5.45.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). On average, equities research analysts forecast that Eve Holding, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of EVE

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in EVE in the first quarter worth $30,000. Themes Management Co LLC acquired a new stake in shares of EVE in the 1st quarter worth about $30,000. Deltec Asset Management LLC acquired a new stake in shares of EVE in the 1st quarter worth about $33,000. BNP Paribas Financial Markets lifted its position in EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after purchasing an additional 3,121 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in EVE by 52.3% in the 1st quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock valued at $42,000 after purchasing an additional 5,840 shares during the last quarter. Institutional investors own 1.27% of the company’s stock.

About EVE

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.