EVE (NYSE:EVEX) Earns Buy Rating from Analysts at D. Boral Capital

Key Points

• D. Boral Capital initiated coverage of EVE with a “buy” rating and a $6.00 price target, implying approximately 136% upside from the stock’s $2.54 opening price.
• Analyst sentiment is mixed but leans positive: EVE has a consensus “Moderate Buy” rating and an average target price of $5.93, based on four Buy, one Hold and one Sell rating.
• EVE reported quarterly earnings of a $0.10 loss per share, beating estimates for a $0.18 loss. The company develops electric vertical takeoff and landing aircraft for urban air mobility and currently has only 1.27% institutional ownership.

Stock analysts at D. Boral Capital started coverage on shares of EVE (NYSE:EVEX - Get Free Report) in a report issued on Friday. The brokerage set a "buy" rating and a $6.00 price target on the stock. D. Boral Capital's price target would indicate a potential upside of 136.22% from the company's current price.

EVEX has been the subject of several other reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. Canaccord Genuity Group dropped their price objective on shares of EVE from $7.50 to $7.25 and set a "buy" rating for the company in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of EVE from $6.00 to $6.50 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of EVE from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group set a $5.00 price target on shares of EVE in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EVE has a consensus rating of "Moderate Buy" and a consensus target price of $5.93.

EVE Price Performance

Shares of NYSE:EVEX opened at $2.54 on Friday. EVE has a one year low of $2.10 and a one year high of $5.16. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. The company has a market cap of $885.16 million, a price-to-earnings ratio of -4.10 and a beta of 1.14. The firm has a 50 day simple moving average of $2.57 and a 200 day simple moving average of $2.81.

EVE (NYSE:EVEX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.08. Research analysts predict that EVE will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of EVE

Several institutional investors have recently added to or reduced their stakes in EVEX. UBS Group AG lifted its holdings in EVE by 56.9% in the fourth quarter. UBS Group AG now owns 799,049 shares of the company's stock valued at $3,188,000 after buying an additional 289,813 shares during the period. Renaissance Technologies LLC acquired a new stake in EVE during the 1st quarter worth about $854,000. BW Gestao de Investimentos Ltda. raised its position in shares of EVE by 49.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company's stock worth $14,708,000 after acquiring an additional 1,223,719 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of EVE in the 4th quarter worth about $2,471,000. Finally, AXQ Capital LP lifted its stake in shares of EVE by 60.4% in the 4th quarter. AXQ Capital LP now owns 22,791 shares of the company's stock valued at $91,000 after purchasing an additional 8,580 shares during the period. 1.27% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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