EVE (NYSE:EVEX) Stock Price Down 4.5% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) was down 4.5% during mid-day trading on Thursday . The company traded as low as $4.68 and last traded at $4.66. Approximately 73,303 shares changed hands during trading, a decline of 76% from the average daily volume of 304,412 shares. The stock had previously closed at $4.88.

Analyst Ratings Changes

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

EVE Price Performance

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 stock has a market cap of $1.43 billion, a P/E ratio of -9.99 and a beta of 0.42. The business’s 50-day simple moving average is $4.62 and its two-hundred day simple moving average is $3.61.

EVE (NYSE:EVEX) last released its quarterly earnings data 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 quarter in the prior year, the business earned ($0.11) earnings per share. Sell-side analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

A number of large investors have recently modified their holdings of the company. Blair William & Co. IL purchased a new stake in EVE in the second quarter valued at approximately $190,000. SG Americas Securities LLC purchased a new stake in EVE in the third quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in EVE in the third quarter valued at approximately $40,000. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 129,300 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of EVE during the third quarter worth approximately $83,000. 1.27% of the stock is currently owned by institutional investors.

About EVE

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.