EVE (NYSE:EVEX) Stock Price Down 4.9% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) fell 4.9% on Thursday . The stock traded as low as $4.42 and last traded at $4.42. 159,788 shares traded hands during trading, a decline of 1% from the average session volume of 161,203 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

Several analysts have issued reports on EVEX shares. Canaccord Genuity Group boosted their target price on EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. TD Cowen upgraded EVE to a “hold” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of EVE in a report on Tuesday, November 5th. Finally, HC Wainwright started coverage on shares of EVE in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 target price for the company.

EVE Stock Up 8.4 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a market capitalization of $1.49 billion, a P/E ratio of -10.44 and a beta of 0.53. The stock has a fifty day moving average price of $3.66 and a 200 day moving average price of $3.43.

EVE (NYSE:EVEX) last posted its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same period in the previous year, the business posted ($0.11) EPS. On average, research analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On EVE

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of EVE by 65.4% in the 3rd quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock worth $2,754,000 after buying an additional 336,133 shares during the last quarter. State Street Corp grew its position in EVE by 3.8% in the third quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after acquiring an additional 13,700 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in EVE by 63.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after acquiring an additional 129,300 shares during the last quarter. Blair William & Co. IL purchased a new stake in EVE during the second quarter valued at about $190,000. Finally, Barclays PLC lifted its stake in EVE by 594.1% during the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after purchasing an additional 37,602 shares during the last quarter. 1.27% of the stock is currently owned by institutional investors.

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.