EVE (NYSE:EVEX) Raised to Sell at Wall Street Zen

EVE (NYSE:EVEX) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group set a $5.00 target price on shares of EVE in a research note on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. D. Boral Capital started coverage on EVE in a research report on Friday, August 21st. They set a “buy” rating and a $6.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

EVE Trading Up 1.6%

EVEX stock opened at $2.21 on Friday. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. EVE has a 1-year low of $1.99 and a 1-year high of $5.16. The business has a 50 day simple moving average of $2.39 and a two-hundred day simple moving average of $2.64. The company has a market capitalization of $768.42 million, a price-to-earnings ratio of -3.56 and a beta of 1.14.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. Research analysts anticipate that EVE will post -0.69 EPS for the current fiscal year.

Institutional Trading of EVE

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in EVE in the second quarter worth about $17,742,000. BW Gestao de Investimentos Ltda. lifted its stake in shares of EVE by 49.7% in the 4th 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 during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of EVE in the 2nd quarter valued at approximately $2,761,000. HITE Hedge Asset Management LLC purchased a new position in shares of EVE in the 4th quarter worth approximately $2,471,000. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of EVE in the 2nd quarter worth approximately $1,041,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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.