EVE (NYSE:EVEX) Trading Down 4.8% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) dropped 4.8% during mid-day trading on Friday . The company traded as low as $3.36 and last traded at $3.34. Approximately 126,254 shares were traded during trading, a decline of 43% from the average daily volume of 219,622 shares. The stock had previously closed at $3.51.

Wall Street Analysts Forecast Growth

EVEX has been the subject of a number of research reports. TD Cowen raised EVE to a “hold” rating in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of EVE in a research note on Wednesday, March 12th. Canaccord Genuity Group raised their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target on shares of EVE in a research note on Friday, March 14th.

EVE Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The firm’s 50 day moving average is $4.28 and its two-hundred day moving average is $3.94. The firm has a market capitalization of $1.06 billion, a P/E ratio of -7.45 and a beta of 0.45.

EVE (NYSE:EVEX) last released its earnings results on Friday, March 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. Research analysts predict that Eve Holding, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Connective Capital Management LLC bought a new position in shares of EVE in the fourth quarter valued at $500,000. Squarepoint Ops LLC acquired a new stake in EVE during the 4th quarter valued at $200,000. Wexford Capital LP acquired a new stake in EVE during the 4th quarter valued at $123,000. ProShare Advisors LLC acquired a new stake in EVE during the 4th quarter valued at $78,000. Finally, Nuveen Asset Management LLC lifted its holdings in EVE by 161.4% during the 4th quarter. Nuveen Asset Management LLC now owns 94,129 shares of the company’s stock valued at $512,000 after purchasing an additional 58,119 shares during the last quarter. 1.27% of the stock is 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.