EVE (NYSE:EVEX) Shares Gap Up After Analyst Upgrade

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) gapped up prior to trading on Monday after HC Wainwright raised their price target on the stock from $6.00 to $8.00. The stock had previously closed at $5.45, but opened at $5.84. HC Wainwright currently has a buy rating on the stock. EVE shares last traded at $5.91, with a volume of 67,499 shares changing hands.

Separately, Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 target price on shares of EVE in a research note on Friday, March 14th.

Hedge Funds Weigh In On EVE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings 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 valued at $5,969,000 after buying an additional 246,863 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EVE by 5.7% in the first 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 during the period. Northern Trust Corp increased its position in EVE by 89.7% during the fourth quarter. Northern Trust Corp now owns 420,000 shares of the company's stock worth $2,285,000 after acquiring an additional 198,627 shares during the period. American Century Companies Inc. boosted its holdings in EVE by 1,292.4% in 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 during the period. Finally, JPMorgan Chase & Co. grew its position in EVE by 380.2% during the fourth quarter. JPMorgan Chase & Co. now owns 186,462 shares of the company's stock worth $1,014,000 after buying an additional 147,632 shares in the last quarter. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Stock Performance

The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $4.23 and a 200 day moving average of $4.34. The stock has a market capitalization of $1.65 billion, a P/E ratio of -11.56 and a beta of 0.77.

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). Research analysts anticipate that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

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.