EVE (NYSE:EVEX) Stock Price Down 7.4% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX)’s share price was down 7.4% during mid-day trading on Tuesday . The stock traded as low as $4.49 and last traded at $4.4450. Approximately 607,746 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 746,896 shares. The stock had previously closed at $4.80.

Analyst Ratings Changes

EVEX has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a research note on Wednesday, October 8th. Canaccord Genuity Group increased their target price on shares of EVE from $6.75 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of EVE in a report on Monday, November 24th. JPMorgan Chase & Co. decreased their price objective on shares of EVE from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group started coverage on shares of EVE in a research note on Monday, December 1st. They issued a “neutral” rating and a $4.84 target price for the company. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.47.

EVE Price Performance

The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -6.90 and a beta of 0.83. 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 company’s fifty day moving average is $4.37 and its two-hundred day moving average is $4.98.

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

Hedge Funds Weigh In On EVE

Several institutional investors and hedge funds have recently made changes to their positions in EVEX. BNP Paribas Financial Markets increased its stake in EVE by 144.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after purchasing an additional 3,121 shares in the last quarter. Canal Insurance CO bought a new stake in shares of EVE during the third quarter worth $38,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE during the third quarter worth $42,000. Avidian Wealth Enterprises LLC bought a new stake in EVE in the 3rd quarter valued at $49,000. Finally, AXQ Capital LP boosted its stake in EVE by 32.6% in the 3rd quarter. AXQ Capital LP now owns 14,211 shares of the company’s stock worth $54,000 after purchasing an additional 3,490 shares during the period. Institutional investors and hedge funds own 1.27% of the company’s stock.

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.