EVE (NYSE:EVEX) Shares Up 8.3% - What's Next?

Key Points

• Eve Holding, Inc. shares surged 8.3% to close at $4.20, although trading volume dropped significantly to 260,747 shares, half the average volume.
• Several analysts adjusted their price targets for EVE, with HC Wainwright raising their estimate to $8.00, while the consensus target is currently $6.58.
• The company reported a quarterly earnings loss of ($0.21) EPS, missing expectations, and is projected to have a fiscal year loss of -0.5 EPS.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) shot up 8.3% during trading on Thursday . The company traded as high as $4.19 and last traded at $4.20. 260,747 shares traded hands during trading, a decline of 50% from the average session volume of 523,863 shares. The stock had previously closed at $3.88.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EVEX shares. HC Wainwright lifted their target price on shares of EVE from $6.00 to $8.00 and gave the company a "buy" rating in a report on Monday, June 9th. Canaccord Genuity Group lowered their price objective on EVE from $7.00 to $6.75 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 target price on shares of EVE in a research note on Monday, June 23rd. Finally, BTIG Research restated a "neutral" rating on shares of EVE in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.58.

EVE Trading Up 8.4%

The firm has a market capitalization of $1.27 billion, a PE ratio of -6.67 and a beta of 0.82. The firm has a 50 day simple moving average of $4.70 and a 200 day simple moving average of $4.76. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 11.46.

EVE (NYSE:EVEX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). Equities analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in EVE in the second quarter worth about $69,000. BNP Paribas Financial Markets lifted its stake in shares of EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after purchasing an additional 3,121 shares during the period. Bank of America Corp DE boosted its holdings in shares of EVE by 18.2% in the second quarter. Bank of America Corp DE now owns 38,299 shares of the company's stock worth $263,000 after buying an additional 5,908 shares during the last quarter. Amundi bought a new stake in EVE during the second quarter valued at approximately $204,000. Finally, Marshall Wace LLP purchased a new stake in EVE during the second quarter valued at approximately $326,000. 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.

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