EVE (NYSE:EVEX) Trading 7.8% Higher - What's Next?

Key Points

• Eve Holding, Inc. (NYSE:EVEX) experienced a stock price increase of 7.8%, reaching a high of $4.05 during mid-day trading.
• Equities analysts have mixed ratings for EVE, with a consensus rating of "Moderate Buy" and a price target averaging $6.58.
• The company's recent earnings report indicated a loss of ($0.21) EPS, which was below expectations, and projections for the current fiscal year suggest a further loss of -0.5 EPS.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s share price was up 7.8% during mid-day trading on Friday . The company traded as high as $4.05 and last traded at $4.08. Approximately 759,196 shares were traded during trading, an increase of 63% from the average daily volume of 465,564 shares. The stock had previously closed at $3.79.

Analyst Ratings Changes

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

EVE Price Performance

The company has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $4.75. The company has a debt-to-equity ratio of 11.46, a quick ratio of 2.77 and a current ratio of 2.77. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.37 and a beta of 0.82.

EVE (NYSE:EVEX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.06). As a group, equities research analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Several institutional investors and hedge funds have recently bought and sold shares of EVEX. Swiss National Bank purchased a new stake in EVE during the 1st quarter valued at about $383,000. Northern Trust Corp grew its position in EVE by 89.7% during the 4th quarter. Northern Trust Corp now owns 420,000 shares of the company's stock worth $2,285,000 after purchasing an additional 198,627 shares during the last quarter. American Century Companies Inc. increased its holdings in EVE by 1,292.4% in the first quarter. American Century Companies Inc. now owns 379,694 shares of the company's stock valued at $1,261,000 after buying an additional 352,424 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of EVE by 161.4% in the fourth quarter. Nuveen Asset Management LLC now owns 94,129 shares of the company's stock valued at $512,000 after purchasing an additional 58,119 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of EVE in the first quarter valued at approximately $313,000. 1.27% of the stock is owned by hedge funds and other 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.