EVE (NYSE:EVEX) Stock Price Down 7.1% - Here's What Happened

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price dropped 7.1% on Monday . The stock traded as low as $3.58 and last traded at $3.55. Approximately 49,897 shares were traded during trading, a decline of 79% from the average daily volume of 243,138 shares. The stock had previously closed at $3.82.

Wall Street Analyst Weigh In

EVEX has been the subject of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of EVE in a research note on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research report on Friday, March 14th.

EVE Price Performance

The stock has a market cap of $1.16 billion, a P/E ratio of -8.12 and a beta of 0.53. The business has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $4.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX - Get Free Report) last posted its quarterly earnings results on Friday, March 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. On average, sell-side analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

A number of hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its position 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 period. Legal & General Group Plc increased its holdings in shares of EVE by 118.0% in the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after buying an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in EVE during the fourth quarter valued at about $34,000. Invesco Ltd. bought a new stake in shares of EVE in the 4th quarter worth approximately $62,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of EVE in the 1st quarter valued at about $39,000. Institutional investors own 1.27% of the company's stock.

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.