EVE (NYSE:EVEX) Shares Gap Up - Should You Buy?

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $6.69, but opened at $7.03. EVE shares last traded at $7.37, with a volume of 57,280 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EVEX shares. HC Wainwright lifted their price target on EVE from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research note on Monday, June 23rd.

EVE Price Performance

The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $2.17 billion, a PE ratio of -13.22 and a beta of 0.85. The business has a 50-day moving average of $4.95 and a 200 day moving average of $4.51.

EVE (NYSE:EVEX - Get Free Report) last issued 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). As a group, research analysts anticipate that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in EVE by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,096,885 shares of the company's stock worth $5,969,000 after acquiring an additional 246,863 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in EVE by 5.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 431,627 shares of the company's stock worth $1,433,000 after purchasing an additional 23,353 shares in 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. American Century Companies Inc. boosted its stake in shares of EVE by 1,292.4% during the 1st quarter. American Century Companies Inc. now owns 379,694 shares of the company's stock valued at $1,261,000 after purchasing an additional 352,424 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of EVE by 380.2% during the 4th quarter. JPMorgan Chase & Co. now owns 186,462 shares of the company's stock valued at $1,014,000 after purchasing an additional 147,632 shares in the last quarter. Institutional investors 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.