EVE (NYSE:EVEX) Shares Gap Up Following Analyst Upgrade

Eve Holding, Inc. (NYSE:EVEX)’s share price gapped up before the market opened on Tuesday after The Goldman Sachs Group upgraded the stock to a hold rating. The stock had previously closed at $4.17, but opened at $4.33. EVE shares last traded at $4.5850, with a volume of 128,899 shares traded.

EVEX has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. BTIG Research reiterated a “neutral” rating on shares of EVE in a report on Tuesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of EVE in a report on Monday, November 24th. Finally, Canaccord Genuity Group raised their price objective on EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, EVE has an average rating of “Hold” and a consensus price target of $6.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of EVE by 117.6% during the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after acquiring an additional 2,824,536 shares during the period. Masters Capital Management LLC boosted its holdings in shares of EVE by 52.5% in the third quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock valued at $11,620,000 after purchasing an additional 1,050,000 shares during the period. Cooper Creek Partners Management LLC bought a new position in EVE in the third quarter worth approximately $9,608,000. BW Gestao de Investimentos Ltda. purchased a new position in EVE during the 3rd quarter worth $9,382,000. Finally, Centiva Capital LP purchased a new position in EVE during the 3rd quarter worth $5,104,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Trading Up 3.0%

The firm has a market capitalization of $1.75 billion, a P/E ratio of -7.72 and a beta of 0.83. The stock has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $4.99. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.91.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. On average, equities research analysts anticipate that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

EVE Company Profile

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.