EVE (NYSE:EVEX) Stock Price Down 5% - Here's Why

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) shares were down 5% on Friday . The stock traded as low as $6.92 and last traded at $6.95. Approximately 298,125 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 277,749 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

Several brokerages have issued reports on EVEX. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target on shares of EVE in a research note on Monday, June 23rd. HC Wainwright upped their target price on shares of EVE from $6.00 to $8.00 and gave the company a "buy" rating in a report on Monday, June 9th.

EVE Stock Performance

The stock's 50-day moving average is $5.72 and its 200-day moving average is $4.65. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -12.55 and a beta of 0.85. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 1.87.

EVE (NYSE:EVEX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). On average, analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVEX. Summit Investment Advisors Inc. raised its holdings in shares of EVE by 257.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock valued at $29,000 after purchasing an additional 3,850 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of EVE by 118.0% in the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock valued at $30,000 after purchasing an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of EVE in the fourth quarter valued at about $34,000. Invesco Ltd. purchased a new stake in shares of EVE in the fourth quarter valued at about $62,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of EVE in the first quarter valued at about $39,000. Institutional investors and hedge funds own 1.27% of the company's stock.

About EVE

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.