EVE (NYSE:EVEX) Reaches New 1-Year Low - What's Next?

Key Points

• EVE hit a new 52-week low of $2.34, last trading at $2.4250 on volume of 346,470; the stock has a market cap of ~$827.2M, 50-/200-day moving averages of $3.24/$3.94, and reported Q1 EPS of ($0.18), missing estimates by $0.04.
• Analysts are mixed—four Buys, two Holds and one Sell—with a MarketBeat consensus rating of "Hold" and a $6.47 consensus target, though several banks (Cantor Fitzgerald, JPMorgan) recently trimmed targets to $6 and Goldman Sachs rates it Neutral at $4.84.
• Institutional ownership is low at 1.27% with several firms adding small stakes recently; Eve Holding is the parent of Eve Air Mobility, focused on developing eVTOL aircraft and an integrated digital platform for urban short‑haul transport.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $2.34 and last traded at $2.4250, with a volume of 346470 shares changing hands. The stock had previously closed at $2.43.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cantor Fitzgerald lowered their target price on EVE from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 18th. Canaccord Genuity Group restated a "buy" rating and set a $7.50 price target on shares of EVE in a research note on Wednesday, March 18th. JPMorgan Chase & Co. decreased their price target on EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group assumed coverage on shares of EVE in a research note on Monday, December 1st. They issued a "neutral" rating and a $4.84 price objective on the stock. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EVE currently has an average rating of "Hold" and a consensus target price of $6.47.

EVE Stock Performance

The stock has a 50 day moving average of $3.24 and a two-hundred day moving average of $3.94. The stock has a market capitalization of $827.22 million, a PE ratio of -3.44 and a beta of 0.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.29 and a quick ratio of 3.29.

EVE (NYSE:EVEX - Get Free Report) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Research analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

A number of institutional investors have recently added to or reduced their stakes in EVEX. BNP Paribas Financial Markets grew its position in EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after buying an additional 3,121 shares during the period. Canal Insurance CO purchased a new stake in shares of EVE during the 3rd quarter worth approximately $38,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of EVE during the 3rd quarter worth approximately $42,000. SG Americas Securities LLC acquired a new stake in shares of EVE in the 4th quarter worth approximately $45,000. Finally, Avidian Wealth Enterprises LLC purchased a new position in EVE in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 1.27% of the company's stock.

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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