Eve Holding, Inc. (NYSE:EVEX) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts rate Eve Holding “Hold” overall: Of six analysts, three recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $6.02, compared with the stock’s recent price of $2.47.
• EVEX is under financial pressure: Shares have declined from a 52-week high of $7.00 to $2.47, and the company reported a quarterly loss of $0.20 per share, missing estimates by $0.05.
• Institutional ownership remains limited at 1.27%, although several funds recently initiated or increased positions. Eve is developing electric vertical takeoff and landing aircraft for urban passenger and cargo transportation.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) has been given a consensus rating of "Hold" by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.0225.

EVEX has been the topic of several research reports. Weiss Ratings restated a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. Canaccord Genuity Group cut their target price on shares of EVE from $7.50 to $7.25 and set a "buy" rating for the company in a research report on Wednesday, May 6th.

Hedge Funds Weigh In On EVE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after acquiring an additional 3,121 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of EVE in the second quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of EVE in the third quarter worth approximately $42,000. SG Americas Securities LLC bought a new stake in EVE during the fourth quarter valued at approximately $45,000. Finally, Themes Management Co LLC bought a new stake in EVE during the first quarter valued at approximately $30,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Stock Performance

Shares of EVEX opened at $2.47 on Tuesday. The firm has a market cap of $861.69 million, a PE ratio of -3.39 and a beta of 1.13. The stock's fifty day moving average price is $2.72 and its two-hundred day moving average price is $3.03. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. EVE has a 1 year low of $2.10 and a 1 year high of $7.00.

EVE (NYSE:EVEX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). On average, equities research analysts forecast that EVE will post -0.73 EPS for the current year.

EVE Company Profile

Eve Holding, Inc NYSE: EVEX is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.

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