EVE (NYSE:EVEX) Shares Up 9.4% - What's Next?

Key Points

• EVE shares rose 9.4% to $1.5650 during Thursday trading, although volume was 63% below the stock’s average daily level.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $5.93 price target—well above the current share price—despite some sell and strong-sell ratings.
• Eve reported a quarterly loss of $0.10 per share, outperforming the expected $0.18 loss. Institutional investors have also initiated positions, led by BlackRock’s approximately $17.7 million stake.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s share price traded up 9.4% during trading on Thursday. The company traded as high as $1.55 and last traded at $1.5650. 417,413 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,129,832 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

EVEX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on EVE from $6.00 to $6.50 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Jefferies Financial Group set a $5.00 price target on EVE in a report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a research report on Tuesday, July 21st. D. Boral Capital started coverage on shares of EVE in a report on Friday, August 21st. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Wall Street Zen lowered shares of EVE from a "sell" rating to a "strong sell" rating in a report on Sunday, October 4th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.93.

EVE Stock Up 14.3%

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 firm's 50-day moving average is $2.20 and its two-hundred day moving average is $2.55. The stock has a market cap of $569.78 million, a P/E ratio of -2.64 and a beta of 1.19.

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 the consensus estimate of ($0.18) by $0.08. On average, equities research analysts anticipate that Eve Holding, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On EVE

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in EVE in the second quarter worth about $17,742,000. Kapitalo Investimentos Ltda bought a new stake in EVE during the 2nd quarter worth about $2,761,000. SPX Gestao de Recursos Ltda bought a new stake in EVE during the 2nd quarter worth about $1,041,000. Renaissance Technologies LLC acquired a new position in EVE during the 1st quarter valued at about $854,000. Finally, Ieq Capital LLC acquired a new position in EVE during the 2nd quarter valued at about $685,000. 1.27% of the stock is owned by institutional investors and hedge funds.

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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