Brokerages Set Eve Holding, Inc. (NYSE:EVEX) Target Price at $6.67

Key Points

• Brokerages have given Eve Holding, Inc. (NYSE:EVEX) a consensus rating of "Moderate Buy," with an average target price of $6.67.
• Recent institutional investments saw Summit Investment Advisors increase their holdings by 257.5%, while Legal & General Group Plc boosted theirs by 118% in the fourth quarter.
• Eve Holding reported a loss of ($0.21) earnings per share in their last earnings announcement, missing consensus estimates by ($0.06).

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) has received an average recommendation of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.6667.

EVEX has been the topic of several recent research reports. BTIG Research restated a "neutral" rating on shares of EVE in a report on Tuesday. HC Wainwright upped their price target on EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $5.00 price target on shares of EVE in a report on Monday, June 23rd.

Institutional Investors Weigh In On EVE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its position in shares of EVE by 118.0% during the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after acquiring an additional 3,001 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of EVE by 144.8% during 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. Summit Investment Advisors Inc. raised its position in shares of EVE by 257.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock worth $29,000 after acquiring an additional 3,850 shares in the last quarter. Bank of America Corp DE raised its position in shares of EVE by 18.2% during the 2nd quarter. Bank of America Corp DE now owns 38,299 shares of the company's stock worth $263,000 after acquiring an additional 5,908 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of EVE by 64.8% during the 4th quarter. Jane Street Group LLC now owns 17,322 shares of the company's stock worth $94,000 after acquiring an additional 6,810 shares in the last quarter. Institutional investors and hedge funds own 1.27% of the company's stock.

EVE Trading Up 4.1%

EVEX traded up $0.18 during mid-day trading on Tuesday, hitting $4.60. 2,477,789 shares of the stock were exchanged, compared to its average volume of 727,474. The firm's fifty day moving average is $6.30 and its two-hundred day moving average is $4.84. EVE has a 1-year low of $2.35 and a 1-year high of $7.70. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 11.46. The company has a market cap of $1.38 billion, a PE ratio of -7.30 and a beta of 0.85.

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

About EVE

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.