Eve Holding, Inc. (NYSE:EVEX) Short Interest Up 15.1% in December

Eve Holding, Inc. (NYSE:EVEX) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,200,000 shares, an increase of 15.1% from the November 30th total of 3,650,000 shares. Based on an average daily volume of 369,800 shares, the days-to-cover ratio is currently 11.4 days. Approximately 8.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

EVEX has been the topic of several analyst reports. TD Cowen raised shares of EVE to a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price 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 target for the company. Finally, Canaccord Genuity Group upped their price objective on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

EVE Price Performance

EVEX traded up $0.15 on Monday, hitting $5.56. 288,818 shares of the company were exchanged, compared to its average volume of 176,801. EVE has a fifty-two week low of $2.33 and a fifty-two week high of $7.49. 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 has a market capitalization of $1.65 billion, a P/E ratio of -11.58 and a beta of 0.53. The business’s fifty day moving average is $3.90 and its 200 day moving average is $3.45.

EVE (NYSE:EVEX) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. During the same period last year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts anticipate that EVE will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

A number of institutional investors have recently made changes to their positions in EVEX. Blair William & Co. IL purchased a new stake in shares of EVE during the second quarter worth about $190,000. SG Americas Securities LLC purchased a new stake in EVE in the 3rd quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in EVE in the 3rd quarter valued at $40,000. Charles Schwab Investment Management Inc. raised its holdings in EVE by 63.6% in the 3rd 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. Finally, Readystate Asset Management LP purchased a new position in shares of EVE during the 3rd quarter worth $83,000. 1.27% of the stock is owned by institutional investors and hedge funds.

EVE Company Profile

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.