EVE (NYSE:EVEX) Trading Up 12.5% – Time to Buy?

Eve Holding, Inc. (NYSE:EVEX) shares were up 12.5% on Thursday . The company traded as high as $3.46 and last traded at $3.43. Approximately 228,471 shares changed hands during trading, an increase of 65% from the average daily volume of 138,183 shares. The stock had previously closed at $3.05.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVEX. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of EVE in a research note on Tuesday, November 5th. HC Wainwright initiated coverage on EVE in a report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 target price for the company.

EVE Trading Up 8.5 %

The stock has a market cap of $985.19 million, a PE ratio of -7.06 and a beta of 0.37. The company’s fifty day moving average is $3.14 and its 200-day moving average is $3.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21.

EVE (NYSE:EVEX) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same period in the previous year, the business posted ($0.11) EPS. On average, analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of EVE during the 3rd quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in EVE in the third quarter valued at $40,000. State Street Corp raised its position in shares of EVE by 3.8% in the third quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after acquiring an additional 13,700 shares during the period. Readystate Asset Management LP purchased a new stake in shares of EVE during the 3rd quarter worth about $83,000. Finally, Vanguard Group Inc. grew its position in shares of EVE by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after acquiring an additional 34,484 shares during the period. Hedge funds and other institutional investors own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.