EVe Mobility Acquisition (NYSE:EVE) Given New $5.00 Price Target at JPMorgan Chase & Co.

EVe Mobility Acquisition (NYSE:EVE) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $5.50 to $5.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 55.75% from the stock’s current price.

EVe Mobility Acquisition Stock Performance

EVE traded up $0.06 on Tuesday, hitting $11.30. 121 shares of the company were exchanged, compared to its average volume of 35,120. The stock’s fifty day moving average is $11.10 and its 200-day moving average is $11.08. EVe Mobility Acquisition has a 12 month low of $10.63 and a 12 month high of $12.03.

Hedge Funds Weigh In On EVe Mobility Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in EVE. Virtu Financial LLC bought a new stake in EVe Mobility Acquisition during the first quarter worth $237,000. Mizuho Securities USA LLC bought a new stake in shares of EVe Mobility Acquisition in the 1st quarter valued at about $757,000. Periscope Capital Inc. lifted its stake in EVe Mobility Acquisition by 41.9% in the 1st quarter. Periscope Capital Inc. now owns 363,166 shares of the company’s stock valued at $3,975,000 after purchasing an additional 107,296 shares during the last quarter. Finally, Berkley W R Corp grew its holdings in EVe Mobility Acquisition by 664.8% during the first quarter. Berkley W R Corp now owns 778,172 shares of the company’s stock worth $8,513,000 after purchasing an additional 676,417 shares during the period.

About EVe Mobility Acquisition

EVe Mobility Acquisition Corp does not have significant operations. The company focuses on effectuating a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. It intends to focus on the automotive and mobility industry.