Eve Holding, Inc. (NYSE:EVEX - Get Free Report) dropped 13.3% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.80 and last traded at $5.81. Approximately 118,545 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 297,803 shares. The stock had previously closed at $6.70.
The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.06).
Analyst Ratings Changes
Several research analysts have weighed in on EVEX shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research report on Monday, June 23rd. HC Wainwright boosted their target price on EVE from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Monday, June 9th.
Read Our Latest Stock Analysis on EVEX
Institutional Trading of EVE
Several hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. raised its stake in shares of EVE by 236.9% in the second quarter. Itau Unibanco Holding S.A. now owns 80,000 shares of the company's stock valued at $549,000 after buying an additional 56,252 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of EVE by 432.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 226,945 shares of the company's stock valued at $1,557,000 after purchasing an additional 184,305 shares during the period. Ethic Inc. raised its stake in shares of EVE by 54.6% during the 2nd quarter. Ethic Inc. now owns 22,300 shares of the company's stock valued at $149,000 after purchasing an additional 7,874 shares during the period. Kapitalo Investimentos Ltda raised its stake in shares of EVE by 1.6% during the 2nd quarter. Kapitalo Investimentos Ltda now owns 500,000 shares of the company's stock valued at $3,430,000 after purchasing an additional 7,715 shares during the period. Finally, TT International Asset Management LTD bought a new stake in shares of EVE during the 2nd quarter valued at $412,000. 1.27% of the stock is currently owned by institutional investors.
EVE Stock Performance
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 business has a 50 day moving average of $6.29 and a 200-day moving average of $4.82.
EVE Company Profile
(
Get Free Report)
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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