EVE (NYSE:EVEX) Sets New 1-Year Low - Should You Sell?

Key Points

• Eve Holding shares fell 2.6% to a new 52-week low of $1.67, well below their 50-day and 200-day moving averages of $2.32 and $2.60, respectively.
• Analyst sentiment remains mixed but leans positive: four analysts rate the stock Buy, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $5.93.
• Eve beat quarterly expectations with a loss of $0.10 per share versus the projected $0.18 loss, but analysts still expect a full-year loss of approximately $0.69 per share. The company develops electric vertical takeoff and landing aircraft and urban air-mobility software.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report) hit a new 52-week low on Tuesday. The company traded as low as $1.67 and last traded at $1.6950, with a volume of 1022285 shares changing hands. The stock had previously closed at $1.74.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. D. Boral Capital assumed 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. Jefferies Financial Group set a $5.00 price target on shares of EVE in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of EVE from $6.00 to $6.50 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of EVE from a "sell" rating to a "strong sell" rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of EVE in a report on Tuesday, July 21st. 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $5.93.

EVE Trading Down 2.6%

The firm has a market capitalization of $590.69 million, a P/E ratio of -2.73 and a beta of 1.19. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65. The stock has a 50 day simple moving average of $2.32 and a 200-day simple moving average of $2.60.

EVE (NYSE:EVEX - Get Free Report) last issued 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. On average, equities research analysts forecast that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in shares of EVE by 52.3% during the 1st quarter. SG Americas Securities LLC now owns 17,001 shares of the company's stock valued at $42,000 after buying an additional 5,840 shares in the last quarter. Arizona State Retirement System increased its holdings in EVE by 37.7% in the 2nd quarter. Arizona State Retirement System now owns 26,430 shares of the company's stock worth $66,000 after acquiring an additional 7,235 shares in the last quarter. AXQ Capital LP raised its stake in EVE by 60.4% during the 4th quarter. AXQ Capital LP now owns 22,791 shares of the company's stock worth $91,000 after acquiring an additional 8,580 shares during the period. Sequoia Financial Advisors LLC bought a new stake in EVE during the 2nd quarter worth approximately $25,000. Finally, Corient Private Wealth LP purchased a new position in EVE during the second quarter valued at approximately $28,000. 1.27% of the stock is currently owned by institutional investors.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.

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