EVE (NYSE:EVEX) Shares Up 10.5% - Still a Buy?

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price was up 10.5% during mid-day trading on Wednesday . The stock traded as high as $7.24 and last traded at $7.26. Approximately 451,816 shares were traded during trading, an increase of 49% from the average daily volume of 302,673 shares. The stock had previously closed at $6.57.

Analysts Set New Price Targets

Several research analysts have issued reports on EVEX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 price objective on shares of EVE in a report on Monday, June 23rd. HC Wainwright increased 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.

EVE Price Performance

The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -12.85 and a beta of 0.85. 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 company has a 50 day moving average of $5.94 and a 200 day moving average of $4.70.

EVE (NYSE:EVEX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). Equities research analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew 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 valued at $30,000 after acquiring an additional 3,001 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of EVE by 257.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock valued at $29,000 after acquiring an additional 3,850 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of EVE in the 4th quarter valued at about $34,000. Jane Street Group LLC grew its holdings in shares of EVE by 64.8% in the 4th quarter. Jane Street Group LLC now owns 17,322 shares of the company's stock valued at $94,000 after acquiring an additional 6,810 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of EVE by 25.5% in the 1st quarter. Rhumbline Advisers now owns 35,223 shares of the company's stock valued at $117,000 after acquiring an additional 7,154 shares in the last quarter. 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.