EVE (NYSE:EVEX) Shares Gap Up – Time to Buy?

Shares of Eve Holding, Inc. (NYSE:EVEX) gapped up before the market opened on Tuesday . The stock had previously closed at $4.17, but opened at $4.33. EVE shares last traded at $4.5850, with a volume of 128,899 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EVEX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a report on Monday, November 24th. BTIG Research reissued a “neutral” rating on shares of EVE in a research report on Tuesday, August 12th. The Goldman Sachs Group assumed coverage on shares of EVE in a research report on Monday. They issued a “neutral” rating and a $4.84 target price on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, EVE currently has a consensus rating of “Hold” and an average target price of $6.47.

EVE Stock Performance

The company has a market capitalization of $1.65 billion, a PE ratio of -7.27 and a beta of 0.83. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average is $4.24 and its two-hundred day moving average is $4.99.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Equities research analysts predict 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 bought and sold shares of EVEX. Swiss National Bank bought a new stake in EVE in the 1st quarter worth approximately $383,000. American Century Companies Inc. raised its stake in shares of EVE by 1,292.4% in the first quarter. American Century Companies Inc. now owns 379,694 shares of the company’s stock worth $1,261,000 after buying an additional 352,424 shares during the period. Pinnacle Associates Ltd. lifted its holdings in EVE by 432.2% during the second quarter. Pinnacle Associates Ltd. now owns 226,945 shares of the company’s stock valued at $1,557,000 after purchasing an additional 184,305 shares in the last quarter. Nuveen LLC purchased a new position in EVE during the first quarter valued at approximately $313,000. Finally, Sagil Capital LLP bought a new position in shares of EVE in the second quarter worth approximately $1,908,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.