EVE (NYSE:EVEX) Shares Gap Down - Should You Sell?

Key Points

• Eve Holding, Inc. (NYSE:EVEX) shares gapped down from $5.86 to $4.90, closing at $4.55 with a trading volume of 393,417 shares.
• Analysts have varied opinions on EVE, with ratings including an "overweight" from Cantor Fitzgerald at a $5.00 target and a "buy" from HC Wainwright with a raised target from $6.00 to $8.00.
• The company reported a loss of ($0.21) earnings per share, missing consensus estimates, with analysts forecasting an average of -0.5 EPS for the current fiscal year.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $5.86, but opened at $4.90. EVE shares last traded at $4.55, with a volume of 393,417 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EVEX shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target on shares of EVE in a research report on Monday, June 23rd. BTIG Research reiterated a "neutral" rating on shares of EVE in a research report on Tuesday, August 12th. Finally, HC Wainwright increased their price target on shares of EVE from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $6.67.

EVE Stock Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -7.33 and a beta of 0.85. The company's fifty day simple moving average is $6.30 and its 200 day simple moving average is $4.83. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 11.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of EVE by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 1,096,885 shares of the company's stock worth $5,969,000 after purchasing an additional 246,863 shares during the period. Kapitalo Investimentos Ltda boosted its position in shares of EVE by 1.6% during the 2nd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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. Northern Trust Corp lifted its position in shares of EVE by 89.7% in the 4th quarter. Northern Trust Corp now owns 420,000 shares of the company's stock worth $2,285,000 after purchasing an additional 198,627 shares during the period. Finally, American Century Companies Inc. raised its holdings in EVE by 1,292.4% in the first quarter. American Century Companies Inc. now owns 379,694 shares of the company's stock worth $1,261,000 after purchasing an additional 352,424 shares in the last quarter. 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.