BTIG Research Reiterates "Neutral" Rating for EVE (NYSE:EVEX)

Key Points

• Analysts at BTIG Research have initiated coverage on EVE (NYSE:EVEX) with a "neutral" rating.
• HC Wainwright raised their price target for EVE from $6.00 to $8.00 and rated it as a "buy", whereas Cantor Fitzgerald maintained an "overweight" rating with a $5.00 price target.
• EVE reported a loss of $0.21 earnings per share for the last quarter, missing analysts' expectations by $0.06, and has an ongoing year EPS projection of -0.5.

BTIG Research restated their neutral rating on shares of EVE (NYSE:EVEX - Free Report) in a report published on Tuesday, Marketbeat.com reports.

Several other analysts also recently commented on EVEX. HC Wainwright increased their price objective on EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research note on Monday, June 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, EVE currently has an average rating of "Moderate Buy" and an average price target of $6.67.

EVE Stock Up 4.1%

EVEX stock traded up $0.18 during trading on Tuesday, reaching $4.60. 2,477,789 shares of the stock were exchanged, compared to its average volume of 727,474. The firm's 50 day moving average is $6.30 and its 200 day moving average is $4.84. EVE has a twelve month low of $2.35 and a twelve month 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 firm has a market cap of $1.38 billion, a P/E ratio of -7.30 and a beta of 0.85.

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

Hedge Funds Weigh In On EVE

Several institutional investors and hedge funds have recently bought and sold shares of EVEX. American Century Companies Inc. bought a new position in EVE during the fourth quarter valued at $148,000. Corebridge Financial Inc. lifted its position in shares of EVE by 57.0% during the fourth quarter. Corebridge Financial Inc. now owns 25,400 shares of the company's stock worth $138,000 after acquiring an additional 9,222 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of EVE by 380.2% during the fourth quarter. JPMorgan Chase & Co. now owns 186,462 shares of the company's stock worth $1,014,000 after acquiring an additional 147,632 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of EVE by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 1,096,885 shares of the company's stock worth $5,969,000 after acquiring an additional 246,863 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of EVE by 156.2% during the fourth quarter. Wells Fargo & Company MN now owns 23,872 shares of the company's stock worth $130,000 after acquiring an additional 14,554 shares in the last quarter. 1.27% of the stock is owned by institutional investors.

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.