EVE (NYSE:EVEX) Stock Price Down 5% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s share price dropped 5% during trading on Friday . The stock traded as low as $5.09 and last traded at $5.03. Approximately 13,635 shares were traded during trading, a decline of 95% from the average daily volume of 273,330 shares. The stock had previously closed at $5.29.

Analyst Upgrades and Downgrades

EVEX has been the subject of several research analyst reports. TD Cowen upgraded shares of EVE to a “hold” rating in a research report on Thursday, December 19th. Canaccord Genuity Group upped 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 restated an “overweight” rating and set a $5.00 price target on shares of EVE in a research report on Tuesday, November 5th.

EVE Stock Down 1.3 %

The company has a market capitalization of $1.55 billion, a P/E ratio of -10.82 and a beta of 0.42. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $4.77 and its 200 day moving average is $3.65.

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

Hedge Funds Weigh In On EVE

Several hedge funds and other institutional investors have recently modified their holdings of EVEX. SG Americas Securities LLC bought a new stake in shares of EVE during the third quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of EVE during the 3rd quarter valued at $40,000. Charles Schwab Investment Management Inc. grew its position in shares of EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after buying an additional 129,300 shares during the period. Readystate Asset Management LP bought a new position in shares of EVE in the 3rd quarter worth about $83,000. Finally, State Street Corp increased its stake in shares of EVE by 3.8% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.