Eve Holding, Inc. (NYSE:EVEX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts assign Eve Holding a “Moderate Buy” consensus: four of six analysts rate the stock a buy, while one each recommend holding or selling. The average 12-month price target is approximately $5.93, with recent targets ranging from $5.00 to $6.50.
• EVEX shares opened at $2.12, near their 52-week low of $2.06 and well below the 52-week high of $5.16. The company reported a quarterly loss of $0.10 per share, beating estimates for a $0.18 loss.
• Institutional investors and hedge funds own just 1.27% of the company, though several firms recently initiated or increased positions, including SPX Gestao de Recursos and the Arizona State Retirement System.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.9317.

Several brokerages have recently weighed in on EVEX. Jefferies Financial Group set a $5.00 target price on shares of EVE in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. Wall Street Zen cut shares of EVE from a "sell" rating to a "strong sell" rating in a research note on Saturday, September 5th. D. Boral Capital initiated coverage on EVE in a report on Friday, August 21st. They set a "buy" rating and a $6.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on EVE from $6.00 to $6.50 and gave the company an "overweight" rating in a report on Wednesday, August 12th.

EVE Stock Up 0.2%

Shares of EVEX stock opened at $2.12 on Wednesday. The stock has a market cap of $740.54 million, a P/E ratio of -3.43 and a beta of 1.14. EVE has a one year low of $2.06 and a one year high of $5.16. The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.69. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48.

EVE (NYSE:EVEX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.08. Analysts predict that EVE will post -0.69 earnings per share for the current year.

Institutional Trading of EVE

Institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new stake in EVE in the second quarter valued at $25,000. Arizona State Retirement System lifted its holdings in shares of EVE by 37.7% during the second quarter. Arizona State Retirement System now owns 26,430 shares of the company's stock valued at $66,000 after acquiring an additional 7,235 shares during the period. Corient Private Wealth LP bought a new position in shares of EVE during the second quarter valued at $28,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of EVE in the 2nd quarter valued at $354,000. Finally, SPX Gestao de Recursos Ltda acquired a new stake in shares of EVE in the 2nd quarter valued at $1,041,000. Institutional investors and hedge funds own 1.27% of the company's stock.

About EVE

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.