EVE (NYSE:EVEX) Shares Gap Down – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $5.48, but opened at $5.24. EVE shares last traded at $5.15, with a volume of 40,704 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EVEX shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th. TD Cowen upgraded EVE to a “hold” rating in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group boosted their price objective on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd.

EVE Price Performance

The firm has a market capitalization of $1.49 billion, a P/E ratio of -10.42 and a beta of 0.42. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average is $4.25 and its 200 day moving average is $3.53.

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

Hedge Funds Weigh In On EVE

A number of institutional investors have recently bought and sold shares of EVEX. SG Americas Securities LLC purchased a new stake in shares of EVE in the third quarter valued at $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in EVE during the third quarter valued at $40,000. Franklin Resources Inc. purchased a new stake in EVE in the 3rd quarter worth about $53,000. Readystate Asset Management LP acquired a new stake in EVE during the 3rd quarter worth about $83,000. Finally, JPMorgan Chase & Co. grew its stake in EVE by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock valued at $126,000 after acquiring an additional 29,029 shares in the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Company Profile

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.