EVE (NYSE:EVEX) Reaches New 52-Week Low After Earnings Miss
by Kim Johansen · The Markets DailyEve Holding, Inc. (NYSE:EVEX – Get Free Report)’s stock price reached a new 52-week low on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $2.72 and last traded at $2.7250, with a volume of 127484 shares. The stock had previously closed at $2.76.
The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04).
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on EVEX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of EVE in a report on Monday, February 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.50 target price on shares of EVE in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.47.
Get Our Latest Stock Report on EVEX
Institutional Investors Weigh In On EVE
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVEX. Amundi increased its stake in shares of EVE by 10.7% in the 3rd quarter. Amundi now owns 30,426 shares of the company’s stock valued at $116,000 after buying an additional 2,941 shares during the period. Arizona State Retirement System lifted its stake in shares of EVE by 17.6% during the third quarter. Arizona State Retirement System now owns 20,436 shares of the company’s stock valued at $78,000 after acquiring an additional 3,063 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of 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 acquiring an additional 3,121 shares during the period. AXQ Capital LP boosted its holdings in EVE by 32.6% in the third quarter. AXQ Capital LP now owns 14,211 shares of the company’s stock valued at $54,000 after acquiring an additional 3,490 shares during the last quarter. Finally, Bank of America Corp DE increased its position in EVE by 13.1% in the third quarter. Bank of America Corp DE now owns 43,324 shares of the company’s stock worth $165,000 after purchasing an additional 5,025 shares during the period. Institutional investors and hedge funds own 1.27% of the company’s stock.
EVE Stock Performance
The stock has a market capitalization of $896.89 million, a price-to-earnings ratio of -3.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a 50-day moving average of $3.56 and a 200 day moving average of $4.02.
EVE Company Profile
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.