Short Interest in Eve Holding, Inc. (NYSE:EVEX) Decreases By 12.5%

Eve Holding, Inc. (NYSE:EVEX) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 3,710,000 shares, a drop of 12.5% from the September 30th total of 4,240,000 shares. Based on an average daily volume of 275,000 shares, the short-interest ratio is presently 13.5 days. Currently, 7.5% of the shares of the company are short sold.

Institutional Investors Weigh In On EVE

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of EVE by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after acquiring an additional 34,484 shares during the period. Blair William & Co. IL purchased a new position in EVE in the 2nd quarter valued at about $190,000. Finally, SG Americas Securities LLC purchased a new position in EVE in the 3rd quarter valued at about $35,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target on shares of EVE in a research report on Monday, September 30th. HC Wainwright assumed coverage on EVE in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on EVE from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd.

EVE Price Performance

Shares of NYSE:EVEX traded down $0.09 during trading on Tuesday, reaching $3.30. 271,583 shares of the company’s stock traded hands, compared to its average volume of 132,191. EVE has a fifty-two week low of $2.33 and a fifty-two week high of $8.00. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $957.46 million, a PE ratio of -7.02 and a beta of 0.36. The company has a 50-day simple moving average of $3.04 and a 200-day simple moving average of $3.84.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). As a group, analysts predict that EVE will post -0.49 earnings per share for the current year.

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.