EVE (NYSE:EVEX) Sees Large Volume Increase - Here's Why

Key Points

• Eve Holding, Inc. (NYSE: EVEX) experienced a significant trading volume surge of 105%, with approximately 1,091,902 shares changing hands, pushing the stock price up to $4.55.
• The company received mixed reviews from analysts, with HC Wainwright upgrading its target price from $6.00 to $8.00 and a consensus rating of "Hold" with a target price of $6.58.
• EVE reported a quarterly loss of ($0.21) earnings per share, falling short of analyst expectations, and has a current ratio of 2.77, indicating strong liquidity.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,091,902 shares traded hands during mid-day trading, an increase of 105% from the previous session's volume of 533,421 shares.The stock last traded at $4.55 and had previously closed at $4.29.

Analyst Upgrades and Downgrades

EVEX has been the subject of several analyst reports. HC Wainwright increased their target price on shares of EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a research note on Saturday, September 27th. BTIG Research reaffirmed a "neutral" rating on shares of EVE in a research note on Tuesday, August 12th. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price target on shares of EVE in a research report on Monday, June 23rd. Finally, Canaccord Genuity Group lowered their price target on EVE from $7.00 to $6.75 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.58.

EVE Stock Performance

The company has a debt-to-equity ratio of 11.46, a current ratio of 2.77 and a quick ratio of 2.77. The firm has a 50-day moving average price of $4.59 and a two-hundred day moving average price of $4.78. The firm has a market capitalization of $1.37 billion, a P/E ratio of -7.23 and a beta of 0.81.

EVE (NYSE:EVEX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06). On average, analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kapitalo Investimentos Ltda raised its holdings in shares of EVE by 1.6% in the second quarter. Kapitalo Investimentos Ltda now owns 500,000 shares of the company's stock valued at $3,430,000 after acquiring an additional 7,715 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in EVE by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 431,627 shares of the company's stock valued at $1,433,000 after purchasing an additional 23,353 shares during the last quarter. American Century Companies Inc. grew its stake in EVE by 1,292.4% in the first quarter. American Century Companies Inc. now owns 379,694 shares of the company's stock valued at $1,261,000 after purchasing an additional 352,424 shares during the last quarter. Sagil Capital LLP purchased a new position in EVE in the second quarter valued at about $1,908,000. Finally, Pinnacle Associates Ltd. grew its stake in EVE by 432.2% in the second quarter. Pinnacle Associates Ltd. now owns 226,945 shares of the company's stock valued at $1,557,000 after purchasing an additional 184,305 shares during the last quarter. 1.27% of the stock is currently 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.

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