EVE (NYSE:EVEX) Shares Gap Down Following Weak Earnings

Eve Holding, Inc. (NYSE:EVEX)’s share price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $2.79, but opened at $2.68. EVE shares last traded at $2.7750, with a volume of 179,192 shares traded.

The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04).

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVEX. BNP Paribas Financial Markets increased its holdings in shares of EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after acquiring an additional 3,121 shares during the last quarter. Canal Insurance CO purchased a new stake in EVE during the third quarter worth approximately $38,000. Schonfeld Strategic Advisors LLC acquired a new position in EVE in the third quarter valued at approximately $42,000. SG Americas Securities LLC purchased a new position in EVE in the fourth quarter valued at approximately $45,000. Finally, Avidian Wealth Enterprises LLC purchased a new position in EVE in the third quarter valued at approximately $49,000. 1.27% of the stock is owned by institutional investors and hedge funds.

EVE Trading Down 0.5%

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 business’s fifty day simple moving average is $3.60 and its two-hundred day simple moving average is $4.02. The company has a market cap of $966.53 million, a price-to-earnings ratio of -4.28 and a beta of 0.88.

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.