EVE (NYSE:EVEX) Sees Strong Trading Volume - What's Next?

Key Points

• The trading volume of Eve Holding, Inc. (NYSE:EVEX) increased by 140% to 813,244 shares, with the stock price at $4.55, up from a previous close of $4.42.
• Analyst ratings for EVE are mixed, with three analysts issuing buy ratings and the average price target set at $6.67, while BTIG Research maintains a "neutral" rating.
• The company reported a loss of ($0.21) EPS for its last quarter, missing analyst expectations, while institutional holdings have been increasing significantly over recent quarters.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) shares saw an uptick in trading volume on Friday . 813,244 shares changed hands during mid-day trading, an increase of 140% from the previous session's volume of 338,236 shares.The stock last traded at $4.55 and had previously closed at $4.42.

Analyst Upgrades and Downgrades

Several research firms have commented on EVEX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 price target on shares of EVE in a report on Monday, June 23rd. HC Wainwright increased their price target on shares of EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. BTIG Research restated a "neutral" rating on shares of EVE in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group decreased their price objective on EVE from $7.00 to $6.75 and set a "buy" rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, EVE has a consensus rating of "Moderate Buy" and a consensus price target of $6.58.

EVE Price 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 stock has a market capitalization of $1.23 billion, a P/E ratio of -6.50 and a beta of 0.85. The company's 50 day simple moving average is $6.26 and its two-hundred day simple moving average is $4.82.

EVE (NYSE:EVEX - Get Free Report) last issued 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). As a group, equities analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On EVE

Large investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its position in EVE by 257.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock worth $29,000 after acquiring an additional 3,850 shares during the last quarter. Legal & General Group Plc grew its position in EVE by 118.0% during the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after acquiring an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in EVE during the 4th quarter worth approximately $34,000. KLP Kapitalforvaltning AS bought a new stake in EVE during the 1st quarter worth approximately $39,000. Finally, Arizona State Retirement System bought a new stake in EVE during the 1st quarter worth approximately $57,000. 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.