EVE (NYSE:EVEX) Stock Price Up 11.3% After Better-Than-Expected Earnings

Eve Holding, Inc. (NYSE:EVEX) shares were up 11.3% on Tuesday following a stronger than expected earnings report. The stock traded as high as $2.78 and last traded at $2.6710. Approximately 166,392 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,177,290 shares. The stock had previously closed at $2.40.

The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08.

Analysts Set New Price Targets

EVEX has been the topic of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.02.

Institutional Investors Weigh In On EVE

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after purchasing an additional 2,824,536 shares during the period. BW Gestao de Investimentos Ltda. grew its stake in shares of EVE by 49.7% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after buying an additional 1,223,719 shares during the last quarter. Masters Capital Management LLC grew its stake in shares of EVE by 52.5% during the third 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 during the last quarter. SPX Gestao de Recursos Ltda increased its holdings 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 worth $11,354,000 after buying an additional 2,256,701 shares during the period. Finally, United Airlines Holdings Inc. bought a new stake in shares of EVE in the 4th quarter valued at about $10,589,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Stock Performance

The company has a market cap of $916.03 million, a P/E ratio of -3.60 and a beta of 1.14. The business has a 50 day moving average price of $2.66 and a two-hundred day moving average price of $2.96. The company has a debt-to-equity ratio of 5.45, a quick ratio of 3.80 and a current ratio of 3.80.

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.