Eve Holding, Inc. (NYSE:EVEX) Short Interest Update

Key Points

• Short interest jumped 19.2% to 6,694,832 shares as of March 31, equal to about 1.9% of the shares outstanding and a short-interest ratio of 4.3 days.
• EVE traded at $2.96 (up $0.21) with a market cap of $1.03B, a negative P/E (-4.28) and a 52-week range of $2.34–$7.70; the company missed last quarter’s EPS estimate, reporting ($0.18) vs. a consensus of ($0.14).
• Analysts’ consensus is an average rating of "Hold" with an average target of $6.47 (Cantor Fitzgerald and JPM lowered targets to $6 while Canaccord keeps $7.50), and Vanguard materially increased its stake even though MarketBeat reports just 1.27% ownership by hedge funds/institutions.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 6,694,832 shares, a growth of 19.2% from the March 15th total of 5,614,924 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 1,539,908 shares, the short-interest ratio is currently 4.3 days.

EVE Stock Performance

EVEX traded up $0.21 during trading on Friday, reaching $2.96. 1,766,204 shares of the company's stock were exchanged, compared to its average volume of 1,260,615. EVE has a 1 year low of $2.34 and a 1 year high of $7.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.29 and a quick ratio of 3.29. The stock has a market capitalization of $1.03 billion, a P/E ratio of -4.28 and a beta of 0.97. The company's fifty day simple moving average is $2.82 and its 200-day simple moving average is $3.81.

EVE (NYSE:EVEX - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.04). As a group, research analysts predict that EVE will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Several institutional investors have recently made changes to their positions in EVEX. Vanguard Group Inc. increased its holdings in shares of EVE by 117.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company's stock valued at $19,914,000 after purchasing an additional 2,824,536 shares in the last quarter. United Airlines Holdings Inc. purchased a new position in shares of EVE during the 4th quarter valued at approximately $10,589,000. Cooper Creek Partners Management LLC purchased a new position in shares of EVE during the 3rd quarter valued at approximately $9,608,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of EVE during the 3rd quarter valued at approximately $9,382,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in shares of EVE by 383.1% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company's stock valued at $11,354,000 after purchasing an additional 2,256,701 shares in the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on EVEX. Cantor Fitzgerald lowered their target price on shares of EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. reduced their price target on shares of EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, March 24th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $7.50 price target on shares of EVE in a research report on Wednesday, March 18th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, EVE has an average rating of "Hold" and an average price target of $6.47.

About EVE

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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