EVE (NYSE:EVEX) Stock Price Up 8.3% - Should You Buy?

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) was up 8.3% during mid-day trading on Thursday . The stock traded as high as $5.85 and last traded at $5.84. Approximately 150,400 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 270,158 shares. The stock had previously closed at $5.39.

Analysts Set New Price Targets

Several analysts recently issued reports on EVEX shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target 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 report on Monday, June 9th.

EVE Stock Up 12.6%

The firm has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $4.44. 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 market capitalization of $1.99 billion, a price-to-earnings ratio of -12.14 and a beta of 0.76.

EVE (NYSE:EVEX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, sell-side analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Several large investors have recently modified their holdings of EVEX. Summit Investment Advisors Inc. grew its stake 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 valued at $29,000 after acquiring an additional 3,850 shares in the last quarter. Legal & General Group Plc lifted its position 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 worth $30,000 after purchasing an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of EVE during the fourth quarter worth about $34,000. KLP Kapitalforvaltning AS bought a new position in shares of EVE during the first quarter worth about $39,000. Finally, Arizona State Retirement System bought a new position in shares of EVE during the first quarter worth about $57,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

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.