EVE (NYSE:EVEX) Trading Up 11.3% After Better-Than-Expected Earnings

Key Points

• Eve Holding shares rose 11.3% to $2.671 after the company reported quarterly EPS of $(0.10), beating the consensus estimate of $(0.18) by $0.08.
• Analyst sentiment remains mixed: the stock has a consensus rating of Hold and an average price target of $6.02, despite one firm maintaining a sell rating and another lowering its target to $7.25 while retaining a buy rating.
• Institutional ownership remains limited at 1.27%, although several funds recently initiated or increased positions in the company, which develops electric vertical takeoff and landing aircraft and urban air mobility solutions.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) traded up 11.3% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $2.78 and last traded at $2.6710. Approximately 166,392 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,177,290 shares. The stock had previously closed at $2.40.

The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EVEX shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a report on Tuesday, July 21st. Canaccord Genuity Group lowered their target price on shares of EVE from $7.50 to $7.25 and set a "buy" rating for the company in a report on Wednesday, May 6th. Three 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 stock currently has a consensus rating of "Hold" and a consensus target price of $6.02.

Institutional Trading of EVE

A number of institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd purchased a new stake in shares of EVE during the 1st quarter valued at $30,000. Themes Management Co LLC bought a new position in EVE during the first quarter valued at about $30,000. Deltec Asset Management LLC bought a new position in EVE during the first quarter valued at about $33,000. BNP Paribas Financial Markets increased its holdings in EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock worth $36,000 after buying an additional 3,121 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in EVE by 52.3% during the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock worth $42,000 after buying an additional 5,840 shares during the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

EVE Trading Up 9.6%

The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. The firm has a market cap of $916.03 million, a P/E ratio of -3.60 and a beta of 1.14. The firm's 50-day simple moving average is $2.66 and its 200 day simple moving average is $2.96.

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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