EVE (NYSE:EVEX) Stock Falls 6.7% - What's Next?

Key Points

• EVEX shares fell 6.7% to about $2.03 in Monday trading, with volume down 81% from the average daily level. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $5.93, despite ratings ranging from sell to buy.
• Eve reported a quarterly loss of $0.10 per share, beating expectations for a $0.18 loss. Institutional investors have also increased exposure, although they collectively own only 1.27% of the company.

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s share price fell 6.7% during trading on Monday. The company traded as low as $2.03 and last traded at $2.0250. Approximately 217,602 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,137,041 shares. The stock had previously closed at $2.17.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EVEX. 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 target on shares of EVE in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of EVE from a "strong sell" rating to a "sell" rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on shares of EVE from $6.00 to $6.50 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Finally, 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 for the company. Four equities research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.93.

EVE Stock Down 3.9%

The company has a market cap of $726.60 million, a P/E ratio of -3.33 and a beta of 1.14. 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 fifty day moving average price of $2.39 and a two-hundred day moving average price of $2.64.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in EVE in the 2nd quarter worth about $17,742,000. BW Gestao de Investimentos Ltda. boosted its stake in shares of EVE by 49.7% in the 4th 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 shares of EVE in the second quarter valued at approximately $2,761,000. HITE Hedge Asset Management LLC purchased a new stake in shares of EVE during the fourth quarter valued at approximately $2,471,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in EVE during the second quarter worth $1,041,000. 1.27% of the stock is owned by institutional investors.

About EVE

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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