EVE (NYSE:EVEX) Sees Large Volume Increase After Analyst Upgrade

Eve Holding, Inc. (NYSE:EVEX) shares saw unusually-high trading volume on Monday after Canaccord Genuity Group raised their price target on the stock from $6.75 to $7.00. Canaccord Genuity Group currently has a buy rating on the stock. Approximately 148,345 shares changed hands during mid-day trading, a decline of 1% from the previous session’s volume of 149,755 shares.The stock last traded at $4.31 and had previously closed at $4.19.

EVEX has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th. HC Wainwright began coverage on EVE in a report on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price objective for the company.

Institutional Investors Weigh In On EVE

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVEX. Geode Capital Management LLC increased its stake in shares of EVE by 65.4% in the 3rd quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock valued at $2,754,000 after purchasing an additional 336,133 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in EVE by 63.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after acquiring an additional 129,300 shares during the last quarter. Blair William & Co. IL acquired a new position in EVE during the second quarter worth about $190,000. Barclays PLC lifted its holdings in shares of EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after acquiring an additional 37,602 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of EVE by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after purchasing an additional 34,484 shares in the last quarter. 1.27% of the stock is currently owned by institutional investors.

EVE Stock Up 2.9 %

The company has a market capitalization of $1.28 billion, a P/E ratio of -9.33 and a beta of 0.53. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21. The firm’s fifty day moving average is $3.28 and its 200-day moving average is $3.49.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

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.