EVE (NYSE:EVEX) Trading Down 5.2% - Here's Why

Key Points

• Eve Holding, Inc. (NYSE:EVEX) experienced a decline of 5.2% on Monday, trading down to $6.60, with a significant drop in trading volume compared to average sessions.
• Analysts have differing opinions on the stock; HC Wainwright set a target price of $8.00 with a "buy" rating, while Cantor Fitzgerald maintained an "overweight" rating with a lower target of $5.00.
• The company reported a loss of ($0.16) earnings per share, which was below analysts' expectations, with forecasts predicting an EPS of -0.5 for the current year.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) fell 5.2% on Monday . The company traded as low as $6.63 and last traded at $6.60. 95,013 shares were traded during mid-day trading, a decline of 68% from the average session volume of 292,365 shares. The stock had previously closed at $6.96.

Wall Street Analyst Weigh In

EVEX has been the topic of several recent research reports. HC Wainwright raised their target price on shares of EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 price target on shares of EVE in a research report on Monday, June 23rd.

EVE Trading Down 4.7%

The company has a market capitalization of $1.98 billion, a P/E ratio of -12.08 and a beta of 0.85. The firm's 50-day moving average price is $5.99 and its 200 day moving average price is $4.69. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 1.87.

EVE (NYSE:EVEX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). As a group, equities research analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On EVE

Institutional investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its position in shares of EVE by 257.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock worth $29,000 after purchasing an additional 3,850 shares during the period. Legal & General Group Plc lifted its position in shares of EVE by 118.0% in the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after purchasing an additional 3,001 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of EVE in the 4th quarter worth about $34,000. KLP Kapitalforvaltning AS purchased a new stake in shares of EVE in the 1st quarter worth about $39,000. Finally, Arizona State Retirement System purchased a new stake in shares of EVE in the 1st quarter worth about $57,000. Institutional investors own 1.27% of the company's stock.

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.

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