EVE (NYSE:EVEX) Hits New 12-Month Low - Here's Why

Key Points

• Eve Holding shares hit a new 52-week low of $2.06 and last traded near $2.13, below both the 50-day and 200-day moving averages.
• Analyst opinions remain mixed, but the stock carries a “Moderate Buy” consensus rating with an average price target of $5.93, substantially above its current price.
• Eve reported a quarterly loss of $0.10 per share, better than the expected $0.18 loss, while analysts anticipate a full-year loss of $0.69 per share.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $2.06 and last traded at $2.1250, with a volume of 1274793 shares traded. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

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

EVE Stock Performance

The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a fifty day simple moving average of $2.43 and a two-hundred day simple moving average of $2.69. The stock has a market cap of $740.54 million, a PE ratio of -3.43 and a beta of 1.14.

EVE (NYSE:EVEX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.08. Equities analysts anticipate that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVEX. BlackRock Inc. acquired a new position in shares of EVE in the 2nd quarter valued at approximately $17,742,000. BW Gestao de Investimentos Ltda. increased its stake in shares of EVE by 49.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company's stock worth $14,708,000 after buying an additional 1,223,719 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in EVE during the 2nd quarter valued at $2,761,000. UBS Group AG boosted its stake in EVE by 56.9% during the 4th quarter. UBS Group AG now owns 799,049 shares of the company's stock valued at $3,188,000 after acquiring an additional 289,813 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in EVE during the 4th quarter worth $2,471,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

EVE Company Profile

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.

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