EVE (NYSE:EVEX) Hits New 52-Week Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX)’s share price hit a new 52-week low during trading on Thursday. The company traded as low as $1.99 and last traded at $2.0350, with a volume of 76141 shares trading hands. The stock had previously closed at $2.08.

Analysts Set New Price Targets

EVEX has been the topic of a number of research reports. D. Boral Capital started coverage on EVE in a research note on Friday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Wall Street Zen raised EVE from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group set a $5.00 target price on EVE in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

EVE Stock Up 5.5%

The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $768.42 million, a price-to-earnings ratio of -3.56 and a beta of 1.14. The stock’s fifty day moving average is $2.39 and its two-hundred day moving average is $2.64.

EVE (NYSE:EVEX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. Sell-side analysts predict that Eve Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Several institutional investors have recently bought and sold shares of EVEX. BlackRock Inc. bought a new position in EVE during the 2nd quarter valued at $17,742,000. Kapitalo Investimentos Ltda bought a new stake in shares of EVE in the 2nd quarter worth $2,761,000. Renaissance Technologies LLC purchased a new stake in shares of EVE in the first quarter valued at about $854,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of EVE in the second quarter valued at about $1,041,000. Finally, BW Gestao de Investimentos Ltda. lifted its position in shares of EVE by 49.7% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after purchasing an additional 1,223,719 shares in the last quarter. Institutional investors own 1.27% of the company’s stock.

About EVE

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.