EVE (NYSE:EVEX) Stock Price Up 8.4% – Time to Buy?

Shares of Eve Holding, Inc. (NYSE:EVEX) shot up 8.4% during trading on Thursday . The company traded as high as $5.00 and last traded at $4.9650. 232,393 shares were traded during mid-day trading, a decline of 67% from the average session volume of 703,336 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EVEX shares. Canaccord Genuity Group increased their price objective 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. JPMorgan Chase & Co. dropped their price target on EVE from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on EVE in a research note on Monday, December 1st. They set a “neutral” rating and a $4.84 price target for the company. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.47.

EVE Trading Up 9.1%

The stock has a 50 day moving average of $4.36 and a 200-day moving average of $4.99. The company has a market capitalization of $1.74 billion, a P/E ratio of -7.70 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.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. On average, research analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

Several large investors have recently made changes to their positions in EVEX. Charles Schwab Investment Management Inc. grew its position in shares of EVE by 5.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 431,627 shares of the company’s stock worth $1,433,000 after purchasing an additional 23,353 shares in the last quarter. Deutsche Bank AG boosted its stake in EVE by 43.5% in the 1st quarter. Deutsche Bank AG now owns 28,715 shares of the company’s stock worth $95,000 after purchasing an additional 8,703 shares during the period. Swiss National Bank purchased a new stake in EVE during the 1st quarter valued at approximately $383,000. Nuveen LLC bought a new stake in shares of EVE during the first quarter valued at approximately $313,000. Finally, American Century Companies Inc. lifted its holdings 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 in the last quarter. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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.