Cantor Fitzgerald Cuts EVE (NYSE:EVEX) Price Target to $6.00

EVE (NYSE:EVEX) had its target price reduced by Cantor Fitzgerald from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 137.15% from the company’s current price.

Several other equities analysts also recently commented on EVEX. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.50 target price on shares of EVE in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of EVE in a research report on Monday, December 1st. They set a “neutral” rating and a $4.84 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, EVE currently has an average rating of “Hold” and a consensus price target of $6.67.

EVE Stock Down 1.6%

EVEX stock opened at $2.53 on Wednesday. EVE has a 1-year low of $2.43 and a 1-year high of $7.70. The business’s 50 day simple moving average is $3.56 and its 200 day simple moving average is $4.02. 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 firm has a market capitalization of $881.21 million, a PE ratio of -3.65 and a beta of 0.88.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). As a group, research analysts anticipate that EVE will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVEX. Vanguard Group Inc. increased its position in shares of EVE by 117.6% during the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after acquiring an additional 2,824,536 shares during the last quarter. BW Gestao de Investimentos Ltda. raised its stake in EVE by 49.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after acquiring an additional 1,223,719 shares during the period. Masters Capital Management LLC lifted its stake in shares of EVE by 52.5% during the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock valued at $11,620,000 after buying an additional 1,050,000 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its position in shares of EVE by 383.1% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after acquiring an additional 2,256,701 shares during the period. Finally, United Airlines Holdings Inc. bought a new stake in shares of EVE during the 4th quarter worth $10,589,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

About EVE

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.