Eve Holding, Inc. (NYSE:EVEX) Sees Significant Increase in Short Interest

Key Points

• Eve Holding, Inc. (EVEX) experienced a 44.6% increase in short interest in September, totaling 3,240,000 shares, with 7.0% of the company’s shares currently short sold.
• Institutional investors have increased their stakes in EVE, with significant boosts from firms like Rhumbline Advisers and Bank of New York Mellon Corp, indicating growing institutional interest.
• The company reported a loss of ($0.21) earnings per share for the last quarter, missing estimates, while analysts forecast a consensus target price of $6.83 for the stock.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,240,000 shares, an increase of 44.6% from the September 15th total of 2,240,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 7.0% of the shares of the company are short sold. Currently, 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of EVE

Several institutional investors have recently bought and sold shares of EVEX. Rhumbline Advisers boosted its stake in shares of EVE by 25.5% in the 1st quarter. Rhumbline Advisers now owns 35,223 shares of the company's stock valued at $117,000 after purchasing an additional 7,154 shares in the last quarter. Bank of New York Mellon Corp boosted its position in EVE by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 110,292 shares of the company's stock valued at $366,000 after buying an additional 7,222 shares in the last quarter. Arizona State Retirement System acquired a new position in EVE in the first quarter valued at about $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of EVE in the 1st quarter worth approximately $39,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of EVE in the 1st quarter worth approximately $142,000. Institutional investors and hedge funds own 1.27% of the company's stock.

EVE Stock Performance

NYSE EVEX traded up $0.02 during midday trading on Thursday, hitting $4.41. The company had a trading volume of 106,691 shares, compared to its average volume of 600,812. EVE has a fifty-two week low of $2.61 and a fifty-two week high of $7.70. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -7.00 and a beta of 0.81. The firm has a fifty day simple moving average of $4.18 and a two-hundred day simple moving average of $4.88. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 11.46.

EVE (NYSE:EVEX - Get Free Report) last issued its 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). Equities analysts forecast that EVE will post -0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of EVE in a research note on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on EVE from $6.75 to $7.50 and gave the stock a "buy" rating in a report on Thursday, October 16th. Finally, BTIG Research reissued a "neutral" rating on shares of EVE in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.83.

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.

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