EVE (NYSE:EVEX) Rating Lowered to Strong Sell at Wall Street Zen

EVE (NYSE:EVEX) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Sunday, Wall Street Zen reports.

Several other research firms also recently weighed in on EVEX. D. Boral Capital started coverage on shares of EVE in a research note on Friday, August 21st. They issued a “buy” rating and a $6.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $5.00 target price on EVE in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, EVE currently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

EVE Trading Down 2.6%

NYSE:EVEX opened at $1.70 on Friday. The company has a market cap of $590.69 million, a P/E ratio of -2.73 and a beta of 1.19. The stock’s fifty day moving average price is $2.32 and its two-hundred day moving average price is $2.60. EVE has a 1 year low of $1.67 and a 1 year high of $5.16. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. As a group, analysts expect that EVE will post -0.69 EPS for the current year.

Institutional Investors Weigh In On EVE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in EVE in the 2nd quarter worth approximately $25,000. Arizona State Retirement System boosted its stake in EVE by 37.7% during the 2nd quarter. Arizona State Retirement System now owns 26,430 shares of the company’s stock valued at $66,000 after purchasing an additional 7,235 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of EVE in the 2nd quarter worth $28,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of EVE in the 2nd quarter worth $354,000. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of EVE in the second quarter worth $1,041,000. Institutional investors own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.