EVE (NYSE:EVEX) Hits New 52-Week Low - Here's What Happened

Key Points

• EVE shares hit a new 52-week low, falling to $2.06 before last trading at $2.1350, below the previous close of $2.15. The stock remains below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans positive overall: four analysts rate EVE a Buy, one rates it a Hold and one a Sell. The consensus rating is “Moderate Buy,” with a target price of $5.93 versus the recent share price.
• EVE reported a quarterly loss of $0.10 per share, beating the expected loss of $0.18, but analysts still forecast a full-year loss of $0.69 per share. The company is developing electric vertical takeoff and landing aircraft for urban air mobility.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $2.06 and last traded at $2.1350, with a volume of 70424 shares trading hands. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

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

EVE Price Performance

The business has a fifty day moving average of $2.47 and a 200 day moving average of $2.72. 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 cap of $744.37 million, a PE ratio of -3.46 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.08. Sell-side analysts anticipate that Eve Holding, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On EVE

A number of hedge funds have recently bought and sold shares of EVEX. BNP Paribas Financial Markets raised its stake in EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company's stock valued at $36,000 after buying an additional 3,121 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of EVE in the 2nd quarter worth approximately $25,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of EVE in the 2nd quarter valued at approximately $69,000. Corient Private Wealth LP bought a new stake in shares of EVE in the 2nd quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE during the 3rd quarter valued at approximately $42,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

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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