SPX Gestao de Recursos Ltda Sells 552,062 Shares of Eve Holding, Inc. $EVEX

Key Points

• SPX Gestao de Recursos Ltda reduced its stake in Eve Holding by 19.4% in the first quarter, selling 552,062 shares and leaving it with 2,293,630 shares valued at about $5.69 million.
• Eve Holding shares fell 2.5% and were trading at $2.17, near their 12-month low of $2.10. The stock remains far below its 12-month high of $7.47.
• The company reported a larger-than-expected loss in its latest earnings, posting EPS of -$0.20 versus the -$0.15 consensus. Analysts currently have a mixed view, with an average rating of Hold and an average price target of $6.02.

SPX Gestao de Recursos Ltda trimmed its holdings in Eve Holding, Inc. (NYSE:EVEX - Free Report) by 19.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,293,630 shares of the company's stock after selling 552,062 shares during the quarter. SPX Gestao de Recursos Ltda owned about 0.66% of EVE worth $5,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canal Insurance CO lifted its stake in EVE by 219.5% in the first quarter. Canal Insurance CO now owns 31,948 shares of the company's stock valued at $79,000 after buying an additional 21,948 shares during the period. R Squared Ltd bought a new position in shares of EVE during the 1st quarter worth approximately $30,000. Deltec Asset Management LLC acquired a new stake in shares of EVE during the 1st quarter worth approximately $33,000. SG Americas Securities LLC grew its holdings in EVE by 52.3% in the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock worth $42,000 after purchasing an additional 5,840 shares during the period. Finally, J. Derek Lewis & Associates Inc. bought a new stake in EVE in the fourth quarter valued at $128,000. Institutional investors own 1.27% of the company's stock.

EVE Trading Down 2.5%

Shares of EVEX opened at $2.17 on Friday. The business's 50-day moving average price is $2.80 and its 200-day moving average price is $3.11. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. Eve Holding, Inc. has a twelve month low of $2.10 and a twelve month high of $7.47. The stock has a market cap of $757.56 million, a PE ratio of -2.98 and a beta of 1.13.

EVE (NYSE:EVEX - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). On average, equities analysts forecast that Eve Holding, Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVEX. Canaccord Genuity Group dropped their price objective on shares of EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on EVE from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.02.

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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