EVE (NYSE:EVEX) Reaches New 1-Year Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX) reached a new 52-week low during trading on Monday . The stock traded as low as $2.72 and last traded at $2.7250, with a volume of 127484 shares trading hands. The stock had previously closed at $2.76.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of EVE in a research note on Monday, December 1st. They set a “neutral” rating and a $4.84 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of EVE in a research note on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.47.

EVE Stock Performance

The stock has a 50-day moving average price of $3.63 and a 200 day moving average price of $4.03. 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 firm has a market capitalization of $938.67 million, a price-to-earnings ratio of -4.13 and a beta of 0.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its stake in EVE by 47.0% during the 4th quarter. Invesco Ltd. now owns 20,038 shares of the company’s stock worth $80,000 after acquiring an additional 6,403 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in EVE in the fourth quarter valued at $192,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of EVE during the fourth quarter worth about $68,000. Numerai GP LLC grew its holdings in shares of EVE by 28.7% during the fourth quarter. Numerai GP LLC now owns 89,168 shares of the company’s stock worth $356,000 after purchasing an additional 19,898 shares during the last quarter. Finally, Aureus Asset Management LLC increased its position in shares of EVE by 517.9% during the fourth quarter. Aureus Asset Management LLC now owns 120,500 shares of the company’s stock worth $481,000 after purchasing an additional 101,000 shares in the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

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.