EVE (NYSE:EVEX) Shares Up 10.5% - Here's What Happened

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 price target on shares of EVE in a research note on Monday, June 23rd. HC Wainwright upped their price target on EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday, June 9th.

EVE Stock Performance

The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 1.87. The company has a fifty day simple moving average of $5.99 and a 200 day simple 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) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). On average, research analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

Hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. boosted its holdings in EVE by 257.5% in 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 in the last quarter. Legal & General Group Plc lifted its holdings in shares of EVE by 118.0% during the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock valued at $30,000 after purchasing an additional 3,001 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of EVE during the fourth quarter valued at $34,000. Invesco Ltd. bought a new position in shares of EVE during the fourth quarter valued at $62,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of EVE during the first quarter valued at $39,000. 1.27% of the stock is owned by institutional investors.

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.