EVE (NYSE:EVEX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded EVE from “strong sell” to “sell,” while the broader analyst consensus remains “Hold,” with an average price target of $5.82.
• EVE shares rose 5.3% to open at $2.76, well below their 12-month high of $6.18. The company reported a quarterly loss of $0.10 per share, beating estimates for a $0.18 loss.
• Institutional activity was mixed but included major new or expanded positions from BlackRock, Vanguard, United Airlines, Cooper Creek Partners and SPX Gestão; institutional investors collectively own 1.27% of EVE.

EVE (NYSE:EVEX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

EVEX has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group set a $5.00 price target on shares of EVE in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.82.

EVE Trading Up 5.3%

Shares of NYSE:EVEX opened at $2.76 on Friday. EVE has a 12 month low of $2.10 and a 12 month high of $6.18. The company has a quick ratio of 3.80, a current ratio of 3.48 and a debt-to-equity ratio of 13.65. The company's fifty day simple moving average is $2.61 and its 200 day simple moving average is $2.92. The firm has a market cap of $961.31 million, a price-to-earnings ratio of -4.45 and a beta of 1.14.

EVE (NYSE:EVEX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.08. As a group, research analysts forecast that EVE will post -0.69 EPS for the current fiscal year.

Institutional Trading of EVE

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in EVE in the second quarter valued at approximately $17,742,000. Vanguard Group Inc. raised its stake in shares of EVE by 117.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company's stock worth $19,914,000 after purchasing an additional 2,824,536 shares in the last quarter. United Airlines Holdings Inc. bought a new stake in shares of EVE during the 4th quarter worth approximately $10,589,000. Cooper Creek Partners Management LLC bought a new stake in shares of EVE during the 3rd quarter worth approximately $9,608,000. Finally, SPX Gestao de Recursos Ltda boosted its holdings in shares of EVE by 383.1% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company's stock valued at $11,354,000 after buying an additional 2,256,701 shares during the last quarter. Institutional investors own 1.27% of the company's stock.

EVE Company Profile

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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