BlackRock Inc. Takes Position in Eve Holding, Inc. $EVEX

Key Points

• BlackRock acquired 7.07 million shares of Eve Holding, valued at approximately $17.7 million, giving it a 2.03% stake. Other institutional investors also recently initiated or increased positions, though overall institutional ownership remains low at 1.27%.
• Analyst sentiment is mixed but leans positive: EVE has a consensus “Moderate Buy” rating and an average price target of $5.93, compared with its recent price of $2.26.
• EVE reported a quarterly loss of $0.10 per share, beating expectations for a $0.18 loss. The stock remains near its one-year low of $2.10 and has a market capitalization of approximately $787.6 million.

BlackRock Inc. bought a new stake in Eve Holding, Inc. (NYSE:EVEX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,068,339 shares of the company's stock, valued at approximately $17,742,000. BlackRock Inc. owned 2.03% of EVE as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in EVE during the first quarter valued at approximately $30,000. Themes Management Co LLC acquired a new position in shares of EVE in the 1st quarter worth approximately $30,000. Pallas Capital Advisors LLC acquired a new position in shares of EVE in the 2nd quarter worth approximately $30,000. Deltec Asset Management LLC bought a new position in shares of EVE during the 1st quarter worth approximately $33,000. Finally, BNP Paribas Financial Markets lifted its position in shares of EVE by 144.8% during the 2nd 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 period. Institutional investors and hedge funds own 1.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EVEX. D. Boral Capital started coverage on EVE in a research report on Friday, August 21st. They issued a "buy" rating and a $6.00 price target on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on shares of EVE from $6.00 to $6.50 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Wall Street Zen raised shares of EVE from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group set a $5.00 price target on shares of EVE in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, EVE presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.93.

EVE Price Performance

EVEX opened at $2.26 on Friday. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market capitalization of $787.59 million, a P/E ratio of -3.65 and a beta of 1.14. The company's 50 day simple moving average is $2.49 and its 200-day simple moving average is $2.74. Eve Holding, Inc. has a one year low of $2.10 and a one year high of $5.16.

EVE (NYSE:EVEX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. Sell-side analysts anticipate that Eve Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

EVE 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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