EVE (NYSE:EVEX) Sets New 12-Month Low - Here's What Happened

Key Points

• EVE Holding (NYSE:EVEX) hit a new 52-week low, falling as low as $2.23 before last trading around $2.29, down about 5.6% on the day.
• Analysts have been trimming expectations, with several firms cutting price targets; the consensus rating remains Hold with an average target of about $6.02.
• The company’s latest earnings report disappointed, as EVE posted -$0.20 EPS, missing estimates, while its balance sheet shows high debt and the stock continues to trade well below its moving averages.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $2.23 and last traded at $2.2850, with a volume of 1566583 shares traded. The stock had previously closed at $2.42.

Analysts Set New Price Targets

EVEX has been the subject of a number of research analyst reports. Cantor Fitzgerald decreased their price target on EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. dropped their price target on EVE from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th. Canaccord Genuity Group cut their price objective on shares of EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of EVE in a report on Friday, April 24th. Three research 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.02.

EVE Stock Down 5.6%

The stock has a market capitalization of $795.87 million, a PE ratio of -3.13 and a beta of 1.13. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. The business's fifty day moving average price is $2.87 and its two-hundred day moving average price is $3.16.

EVE (NYSE:EVEX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). On average, equities research analysts forecast that Eve Holding, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new stake in EVE in the third quarter valued at approximately $2,568,000. Heights Capital Management Inc. purchased a new position in EVE during the 3rd quarter worth approximately $2,652,000. UBS Group AG raised its position in EVE by 56.9% during the 4th quarter. UBS Group AG now owns 799,049 shares of the company's stock worth $3,188,000 after buying an additional 289,813 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its stake in EVE by 49.7% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company's stock valued at $14,708,000 after acquiring an additional 1,223,719 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new stake in EVE during the 4th quarter valued at approximately $2,471,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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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