EVE (NYSE:EVEX) Shares Gap Down - Time to 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) gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BTIG Research reiterated a "neutral" rating on shares of EVE in a report on Tuesday, August 12th. HC Wainwright boosted their target price 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 target price on shares of EVE in a research note on Monday, June 23rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.67.

EVE Trading Down 5.6%

The firm's 50-day moving average price is $6.26 and its 200 day moving average price is $4.82. The company has a debt-to-equity ratio of 11.46, a quick ratio of 2.77 and a current ratio of 2.77.

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

Institutional Trading of EVE

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. grew its position in shares of EVE by 257.5% during the fourth 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% in the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after purchasing an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets bought a new position in EVE in the 4th quarter worth about $34,000. KLP Kapitalforvaltning AS bought a new stake in shares of EVE during the first quarter valued at approximately $39,000. Finally, Arizona State Retirement System bought a new stake in shares of EVE during the first quarter valued at approximately $57,000. 1.27% of the stock is owned by institutional investors and hedge funds.

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.