EVE (NYSE:EVEX) Trading 6.5% Higher - What's Next?

Key Points

• EVEX shares rose 6.5% on Monday, trading as high as $2.33, though volume was well below average at 309,881 shares versus the typical 1.2 million.
• Analyst sentiment remains mixed: JPMorgan and Canaccord recently cut price targets, while the consensus rating is currently Hold with an average target of $6.02.
• Eve Holding missed its latest earnings estimate, reporting EPS of -$0.20 versus expectations of -$0.15, while the company continues to develop eVTOL aircraft for urban air mobility.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price rose 6.5% on Monday . The stock traded as high as $2.33 and last traded at $2.3210. 309,881 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,198,461 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

Several brokerages recently issued reports on EVEX. JPMorgan Chase & Co. cut their target price on shares of EVE from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th. Canaccord Genuity Group decreased their price target on shares of EVE from $7.50 to $7.25 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.02.

EVE Price Performance

The stock has a market capitalization of $834.18 million, a price-to-earnings ratio of -3.28 and a beta of 1.13. The business's fifty day moving average price is $2.80 and its 200-day moving average price is $3.11. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVEX. R Squared Ltd bought a new stake in EVE during the first quarter worth $30,000. Themes Management Co LLC bought a new position in EVE during the 1st quarter valued at $30,000. Deltec Asset Management LLC bought a new position in EVE during the 1st quarter valued at $33,000. BNP Paribas Financial Markets boosted its holdings in EVE by 144.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after acquiring an additional 3,121 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in EVE by 52.3% during the 1st quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock worth $42,000 after acquiring an additional 5,840 shares during the last quarter. Institutional investors own 1.27% of the company's stock.

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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