EVE (NYSE:EVEX) Trading Up 7.7% – Here’s Why

Shares of Eve Holding, Inc. (NYSE:EVEX) traded up 7.7% during trading on Tuesday . The company traded as high as $4.97 and last traded at $4.99. 53,608 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 305,442 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Cowen upgraded shares of EVE to a “hold” rating in a research note on Thursday, December 19th. Canaccord Genuity Group increased their price objective on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th.

EVE Trading Down 3.0 %

The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.86 and a beta of 0.42. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The company’s 50 day simple moving average is $4.56 and its two-hundred day simple moving average is $3.59.

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

Institutional Investors Weigh In On EVE

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of EVE in the third quarter worth $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of EVE in the third quarter worth $40,000. Franklin Resources Inc. purchased a new position in shares of EVE in the third quarter worth $53,000. Readystate Asset Management LP purchased a new position in shares of EVE in the third quarter worth $83,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of EVE by 296.2% during the third quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock worth $126,000 after purchasing an additional 29,029 shares during the last quarter. 1.27% of the stock is currently owned by institutional investors and hedge funds.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.