EVE (NYSE:EVEX) Stock Price Down 6.4% - Should You Sell?

Key Points

• EVE shares fell 6.4% on Monday, trading as low as $2.33 and well below the prior close, with volume far under its average level.
• Analysts remain cautious overall: several firms recently cut price targets, and MarketBeat shows a consensus rating of “Hold” with a $6.02 average price target.
• The company missed earnings estimates in its latest report, posting a $0.20 loss per share versus expectations for a $0.15 loss, while analysts expect a full-year loss of $0.73 per share.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) traded down 6.4% on Monday . The stock traded as low as $2.33 and last traded at $2.2650. 55,104 shares changed hands during trading, a decline of 95% from the average daily volume of 1,199,901 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group dropped their price target on shares of EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Cantor Fitzgerald reduced their price objective on shares of EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. JPMorgan Chase & Co. lowered their target price on shares of EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EVE presently has a consensus rating of "Hold" and a consensus price target of $6.02.

EVE Stock Performance

The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. The stock has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $3.18. The company has a market cap of $795.88 million, a PE ratio of -3.14 and a beta of 1.13.

EVE (NYSE:EVEX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). Equities analysts predict that Eve Holding, Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi increased its stake in EVE by 10.7% in the third quarter. Amundi now owns 30,426 shares of the company's stock valued at $116,000 after purchasing an additional 2,941 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after buying an additional 3,121 shares during the period. Bank of America Corp DE boosted its stake in shares of EVE by 13.1% during the third quarter. Bank of America Corp DE now owns 43,324 shares of the company's stock worth $165,000 after buying an additional 5,025 shares during the period. SG Americas Securities LLC grew its holdings in shares of EVE by 52.3% during the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock worth $42,000 after buying an additional 5,840 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of EVE by 47.0% during the fourth quarter. Invesco Ltd. now owns 20,038 shares of the company's stock worth $80,000 after buying an additional 6,403 shares during the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

About EVE

Eve Holding, Inc NYSE: EVEX is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.

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