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

Key Points

• Analysts give Eve a “Moderate Buy” consensus: Of six covering brokerages, four rate the stock a buy, one holds, and one rates it a sell; the average 12-month price target is $5.93.
• Some institutions increased or initiated positions recently, but institutional investors own just 1.27% of the stock.
• Eve reported a quarterly loss of $0.10 per share, narrower than analysts’ expected loss of $0.18. Shares have ranged from $1.41 to $5.16 over the past year.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.93.

A number of equities analysts have weighed in on EVEX shares. Jefferies Financial Group set a $5.00 price target on shares of EVE in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of EVE from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 4th. JPMorgan Chase & Co. raised their price objective on shares of EVE from $6.00 to $6.50 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Weiss Ratings restated a "sell (e+)" rating on shares of EVE in a research note on Monday, October 19th. Finally, D. Boral Capital began coverage on shares of EVE in a research note on Friday, August 21st. They set a "buy" rating and a $6.00 target price on the stock.

Institutional Investors Weigh In On EVE

Institutional investors and hedge funds have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. grew its holdings in EVE by 129.5% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 280,000 shares of the company's stock valued at $540,000 after buying an additional 158,000 shares in the last quarter. Canal Insurance CO raised its position in shares of EVE by 213.0% during the third quarter. Canal Insurance CO now owns 100,000 shares of the company's stock valued at $193,000 after buying an additional 68,052 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of EVE in the second quarter worth $25,000. Arizona State Retirement System lifted its holdings in shares of EVE by 37.7% in the second quarter. Arizona State Retirement System now owns 26,430 shares of the company's stock worth $66,000 after buying an additional 7,235 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new position in shares of EVE in the second quarter worth $28,000. 1.27% of the stock is owned by institutional investors.

EVE Trading Up 9.5%

Shares of NYSE:EVEX opened at $1.68 on Thursday. The stock has a 50 day moving average of $1.89 and a 200 day moving average of $2.65. The company has a market cap of $583.72 million, a PE ratio of -2.70 and a beta of 1.25. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65. EVE has a 12-month low of $1.41 and a 12-month high of $5.16.

EVE (NYSE:EVEX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.08. As a group, equities research analysts expect that EVE will post -0.69 EPS for the current year.

EVE Company Profile

Eve Air Mobility, formerly known as Eve Holding, Inc, develops electric vertical takeoff and landing (eVTOL) aircraft and related urban air mobility solutions. The company is focused on creating quieter, lower-emission transportation options for short urban and regional trips, including passenger flights, airport transfers and other specialized missions.

Its primary product is an eVTOL aircraft designed to operate using electric propulsion and vertical takeoff and landing capabilities.

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