EVE (NYSE:EVEX) Trading Down 4.8% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s share price dropped 4.8% during mid-day trading on Friday . The stock traded as low as $3.36 and last traded at $3.34. Approximately 126,254 shares traded hands during trading, a decline of 43% from the average daily volume of 219,622 shares. The stock had previously closed at $3.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EVEX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of EVE in a report on Friday, March 14th. TD Cowen raised EVE to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group lifted 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, HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of EVE in a report on Wednesday, March 12th.

EVE Stock Up 1.9 %

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 company has a market cap of $1.06 billion, a P/E ratio of -7.45 and a beta of 0.45. The stock has a 50-day moving average of $4.28 and a 200 day moving average of $3.94.

EVE (NYSE:EVEX) last issued its quarterly earnings results on Friday, March 14th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Research analysts anticipate that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVEX. Connor Clark & Lunn Investment Management Ltd. bought a new position in EVE in the third quarter valued at about $40,000. Charles Schwab Investment Management Inc. grew its position 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. Readystate Asset Management LP bought a new position in EVE in the third quarter valued at about $83,000. 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 valued at $1,225,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Barclays PLC grew its position in EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock valued at $141,000 after acquiring an additional 37,602 shares during the last quarter. Institutional investors own 1.27% of the company’s stock.

About EVE

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.