Eve Holding, Inc. (NYSE:EVEX) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Eve Holding, Inc. has received a consensus recommendation of "Moderate Buy" from five brokerages, with the average twelve-month price target set at $6.5833.
• Institutional investment in EVE has increased significantly, with notable firms like BNP Paribas Financial Markets and Bank of America expanding their holdings by 144.8% and 18.2%, respectively.
• EVE's stock price recently opened at $3.91, with its 50-day moving average at $5.85 and a year high of $7.70.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) has been given an average rating of "Moderate Buy" by the five analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.5833.

Several research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of EVE from $7.00 to $6.75 and set a "buy" rating for the company in a report on Wednesday, August 20th. BTIG Research reaffirmed a "neutral" rating on shares of EVE in a research note on Tuesday, August 12th. HC Wainwright increased their target price on EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 price target on shares of EVE in a report on Monday, June 23rd.

Hedge Funds Weigh In On EVE

A number of hedge funds and other institutional investors have recently modified their holdings of EVEX. Wells Fargo & Company MN lifted its stake in EVE by 156.2% in the 4th quarter. Wells Fargo & Company MN now owns 23,872 shares of the company's stock worth $130,000 after purchasing an additional 14,554 shares in the last quarter. Barclays PLC increased its holdings in shares of EVE by 84.4% in the fourth quarter. Barclays PLC now owns 81,016 shares of the company's stock worth $441,000 after purchasing an additional 37,085 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of EVE in the fourth quarter worth about $178,000. Price T Rowe Associates Inc. MD lifted its position in shares of EVE by 65.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,928 shares of the company's stock worth $109,000 after buying an additional 7,919 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in EVE during the fourth quarter valued at approximately $75,000. Institutional investors own 1.27% of the company's stock.

EVE Stock Performance

EVE stock traded up $0.21 during midday trading on Friday, hitting $3.89. The stock had a trading volume of 1,627,610 shares, compared to its average volume of 1,404,452. EVE has a 52-week low of $2.61 and a 52-week high of $7.70. The company has a market capitalization of $1.17 billion, a PE ratio of -6.17 and a beta of 0.82. The firm's fifty day moving average is $5.58 and its two-hundred day moving average is $4.75. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 11.46.

EVE (NYSE:EVEX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06). On average, research analysts forecast that EVE will post -0.5 EPS for the current year.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.