EVE (NYSE:EVEX) Stock Price Down 6.1% – Should You Sell?
by Danessa Lincoln · The Markets DailyShares of Eve Holding, Inc. (NYSE:EVEX – Get Free Report) dropped 6.1% during trading on Monday . The company traded as low as $4.22 and last traded at $4.2060. Approximately 138,561 shares changed hands during trading, a decline of 85% from the average daily volume of 946,867 shares. The stock had previously closed at $4.48.
Wall Street Analyst Weigh In
A number of equities analysts have commented on EVEX shares. JPMorgan Chase & Co. decreased their price objective on shares of EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a research note on Monday, November 24th. The Goldman Sachs Group started coverage on EVE in a research report on Monday, December 1st. They issued a “neutral” rating and a $4.84 target price on the stock. Canaccord Genuity Group raised their price objective on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, EVE has an average rating of “Hold” and a consensus price target of $6.47.
Read Our Latest Stock Report on EVE
EVE Trading Down 6.7%
The business has a 50-day moving average of $4.39 and a 200-day moving average of $4.69. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -6.43 and a beta of 0.83.
EVE (NYSE:EVEX – Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. As a group, research analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current year.
Hedge Funds Weigh In On EVE
A number of hedge funds have recently modified their holdings of the stock. 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. Canal Insurance CO acquired a new position in EVE during the 3rd quarter valued at about $38,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE during the 3rd quarter worth approximately $42,000. SG Americas Securities LLC bought a new stake in shares of EVE during the fourth quarter worth approximately $45,000. Finally, Avidian Wealth Enterprises LLC acquired a new position in EVE in the third quarter valued at approximately $49,000. 1.27% of the stock is owned by institutional investors and hedge funds.
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.