EVE (NYSE:EVEX) Stock Price Down 8.4% - Time to Sell?

Key Points

• EVE shares fell 8.4% to $2.62 during mid-day trading, with volume down 89% from the average daily level.
• Analyst sentiment is mixed, with three Buy, two Hold and one Sell ratings; the consensus rating is Hold with a $5.82 target price.
• EVE reported a quarterly loss of $0.10 per share, beating estimates for a $0.18 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 8.4% during mid-day trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.62. Approximately 124,720 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,185,983 shares. The stock had previously closed at $2.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EVEX shares. Canaccord Genuity Group lowered their price objective on EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Jefferies Financial Group set a $5.00 target price on EVE in a report on Wednesday. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.82.

EVE Stock Performance

The company has a debt-to-equity ratio of 5.45, a quick ratio of 3.80 and a current ratio of 3.80. The company has a market cap of $903.84 million, a P/E ratio of -3.57 and a beta of 1.14. The stock's fifty day moving average price is $2.65 and its two-hundred day moving average price is $2.94.

EVE (NYSE:EVEX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.08. As a group, equities analysts predict that Eve Holding, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of EVE

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock valued at $36,000 after acquiring an additional 3,121 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of EVE in the second quarter worth about $69,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE in the 3rd quarter valued at approximately $42,000. SG Americas Securities LLC acquired a new stake in shares of EVE in the 4th quarter valued at approximately $45,000. Finally, Themes Management Co LLC acquired a new stake in shares of EVE in the 1st quarter valued at approximately $30,000. 1.27% of the stock is currently owned by 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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