EVE (NYSE:EVEX) Trading Down 6.6% - Time to Sell?

Key Points

• Eve Holding, Inc. (NYSE:EVEX) saw its stock price drop by 6.6%, closing at $4.73 after trading as low as $4.77.
• Analysts have issued mixed ratings, with three Buy, two Hold, and one Sell, leading to a consensus rating of "Hold" and a target price of $6.58.
• The company reported a loss of ($0.21) earnings per share, missing analysts' expectations and projecting a forecasted EPS of -0.5 for the current year.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price was down 6.6% on Tuesday . The stock traded as low as $4.77 and last traded at $4.73. Approximately 858,660 shares were traded during trading, an increase of 54% from the average daily volume of 557,315 shares. The stock had previously closed at $5.06.

Wall Street Analyst Weigh In

EVEX has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on EVE from $7.00 to $6.75 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a research note on Saturday, September 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 target price on shares of EVE in a research note on Monday, June 23rd. HC Wainwright lifted their target price on EVE from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, BTIG Research reiterated a "neutral" rating on shares of EVE in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, EVE presently has a consensus rating of "Hold" and a consensus target price of $6.58.

EVE Trading Down 6.8%

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 11.46. The company has a market cap of $1.42 billion, a PE ratio of -7.42 and a beta of 0.81. The firm has a fifty day moving average of $4.56 and a two-hundred day moving average of $4.80.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVEX. Bank of America Corp DE grew its holdings in EVE by 24.2% during the 4th quarter. Bank of America Corp DE now owns 47,124 shares of the company's stock valued at $256,000 after buying an additional 9,187 shares in the last quarter. Squarepoint Ops LLC purchased a new position in EVE during the 4th quarter valued at about $200,000. Rhumbline Advisers grew its holdings in EVE by 25.5% during the 1st quarter. Rhumbline Advisers now owns 35,223 shares of the company's stock valued at $117,000 after buying an additional 7,154 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of EVE by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 110,292 shares of the company's stock valued at $366,000 after acquiring an additional 7,222 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of EVE during the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 1.27% of the company's stock.

About EVE

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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