EVE (NYSE:EVEX) Price Target Raised to $6.50 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised EVE’s price target to $6.50 from $6.00 and maintained an “overweight” rating, implying 133.39% upside from the stock’s reported $2.79 price.
• Analyst sentiment remains mixed: EVE has an average “Hold” rating and a consensus price target of $5.92, with three Buy, one Hold, and one Sell rating.
• EVE reported a quarterly loss of $0.10 per share, beating the $0.18 consensus loss estimate, while analysts forecast a full-year loss of $0.69 per share.

EVE (NYSE:EVEX - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $6.00 to $6.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 133.39% from the company's current price.

A number of other research analysts have also recently issued reports on EVEX. Wall Street Zen raised EVE from a "strong sell" rating to a "sell" rating in a research note on Saturday. Jefferies Financial Group set a $5.00 price objective on EVE in a report on Wednesday, August 5th. Canaccord Genuity Group decreased their price objective on EVE from $7.50 to $7.25 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of EVE in a research note on Tuesday, July 21st. Three equities research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.92.

EVE Trading Down 2.3%

EVE stock traded down $0.07 during mid-day trading on Wednesday, hitting $2.79. The stock had a trading volume of 86,044 shares, compared to its average volume of 1,186,241. The stock has a market capitalization of $970.03 million, a PE ratio of -4.49 and a beta of 1.14. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65. EVE has a 12 month low of $2.10 and a 12 month high of $6.04. The stock has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $2.88.

EVE (NYSE:EVEX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.08. As a group, sell-side analysts forecast that EVE will post -0.69 EPS for the current year.

Institutional Investors Weigh In On EVE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi increased its holdings in EVE by 10.7% during the third quarter. Amundi now owns 30,426 shares of the company's stock worth $116,000 after buying an additional 2,941 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock valued at $36,000 after acquiring an additional 3,121 shares during the last quarter. Bank of America Corp DE grew its position in shares of EVE by 13.1% in the 3rd quarter. Bank of America Corp DE now owns 43,324 shares of the company's stock valued at $165,000 after acquiring an additional 5,025 shares during the period. SG Americas Securities LLC grew its position in shares of EVE by 52.3% in the 1st quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock valued at $42,000 after acquiring an additional 5,840 shares during the period. Finally, Invesco Ltd. increased its stake in shares of EVE by 47.0% during the 4th quarter. Invesco Ltd. now owns 20,038 shares of the company's stock worth $80,000 after purchasing an additional 6,403 shares during the last quarter. 1.27% of the stock is currently owned by institutional investors and hedge funds.

EVE Company Profile

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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