Eve Holding, Inc. (NYSE:EVEX) Stock Has Average Price Target of $5.93

Key Points

• Analyst sentiment is moderately bullish: Six analysts give Eve Holding a consensus “Moderate Buy” rating, with an average 12-month price target of $5.93 versus the stock’s recent $1.68 price.
• EVEX remains sharply below its yearly high: Shares have traded between $1.56 and $5.16 over the past 12 months, with a market capitalization of approximately $584 million.
• Quarterly results exceeded expectations: Eve reported a loss of $0.10 per share, beating the consensus estimate of a $0.18 loss; analysts expect a full-year loss of $0.69 per share.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.93.

Several brokerages recently weighed in on EVEX. Jefferies Financial Group set a $5.00 target price on EVE in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price target on EVE from $6.00 to $6.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. D. Boral Capital assumed coverage on EVE in a research note on Friday, August 21st. They set a "buy" rating and a $6.00 price objective for the company. Finally, Wall Street Zen cut shares of EVE from a "sell" rating to a "strong sell" rating in a report on Sunday, October 4th.

Institutional Trading of EVE

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in EVE during the second quarter valued at approximately $17,742,000. Kapitalo Investimentos Ltda bought a new stake in shares of EVE during the 2nd quarter valued at $2,761,000. SPX Gestao de Recursos Ltda bought a new stake in shares of EVE during the 2nd quarter valued at $1,041,000. Renaissance Technologies LLC purchased a new position in shares of EVE during the 1st quarter valued at $854,000. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of EVE during the 4th quarter valued at $2,471,000. Institutional investors own 1.27% of the company's stock.

EVE Stock Performance

Shares of EVEX opened at $1.68 on Friday. EVE has a 12-month low of $1.56 and a 12-month high of $5.16. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65. The company has a market cap of $583.72 million, a PE ratio of -2.70 and a beta of 1.19. The stock has a 50-day moving average price of $2.27 and a 200-day moving average price of $2.57.

EVE (NYSE:EVEX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.08. As a group, equities analysts forecast that EVE will post -0.69 earnings per share for the current fiscal year.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.

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