EVE (NYSE:EVEX) Shares Up 6.5% - Should You Buy?

Key Points

• EVE shares rose 6.5% to about $2.225 during Friday’s mid-day trading, despite trading volume running 64% below the average session level.
• Analyst sentiment is mixed but leans positive: four analysts rate the stock Buy, one rates it Hold and one rates it Sell. The consensus is “Moderate Buy,” with an average price target of $5.93 versus the recent share price.
• Eve reported a quarterly loss of $0.10 per share, beating estimates for a $0.18 loss, but analysts expect a full-year loss of $0.69 per share. The company is developing electric vertical takeoff and landing aircraft and supporting urban air-mobility software and services.

Shares of Eve Holding, Inc. (NYSE:EVEX - Get Free Report) were up 6.5% during mid-day trading on Friday. The stock traded as high as $2.12 and last traded at $2.2250. Approximately 401,678 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,130,251 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

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

EVE Trading Up 6.0%

The company has a market capitalization of $771.91 million, a P/E ratio of -3.58 and a beta of 1.14. The business has a fifty day moving average price of $2.39 and a 200 day moving average price of $2.64. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 13.65.

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

Institutional Trading of EVE

A number of hedge funds and other institutional investors have recently made changes to their positions in EVEX. Sequoia Financial Advisors LLC bought a new stake in shares of EVE in the second quarter worth $25,000. Arizona State Retirement System increased its stake in EVE by 37.7% in the 2nd quarter. Arizona State Retirement System now owns 26,430 shares of the company's stock valued at $66,000 after buying an additional 7,235 shares during the last quarter. Corient Private Wealth LP acquired a new stake in EVE in the 2nd quarter valued at $28,000. Susquehanna Fundamental Investments LLC bought a new stake in EVE during the 2nd quarter worth about $354,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in EVE during the 2nd quarter worth about $1,041,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.