EVE (NYSE:EVEX) Stock Price Down 8.2% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX) shares traded down 8.2% during mid-day trading on Wednesday . The company traded as low as $5.21 and last traded at $5.23. 65,469 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 260,561 shares. The stock had previously closed at $5.70.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of EVE in a report on Tuesday, November 5th. Canaccord Genuity Group upped their target price on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, TD Cowen raised EVE to a “hold” rating in a report on Thursday, December 19th.

EVE Trading Down 11.7 %

The company has a market cap of $1.44 billion, a price-to-earnings ratio of -10.08 and a beta of 0.42. The firm has a 50 day moving average price of $4.25 and a two-hundred day moving average price of $3.53. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same period last year, the firm posted ($0.11) earnings per share. As a group, equities analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On EVE

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in EVE during the third quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in EVE during the third quarter worth approximately $40,000. State Street Corp grew its stake in EVE by 3.8% during the third quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after purchasing an additional 13,700 shares during the period. Franklin Resources Inc. acquired a new stake in EVE during the third quarter worth approximately $53,000. Finally, Readystate Asset Management LP acquired a new stake in EVE during the third quarter worth approximately $83,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.