EVE (NYSE:EVEX) Sets New 1-Year Low – Should You Sell?

Shares of Eve Holding, Inc. (NYSE:EVEX) hit a new 52-week low on Monday . The stock traded as low as $2.34 and last traded at $2.4250, with a volume of 346470 shares traded. The stock had previously closed at $2.43.

Analyst Ratings Changes

A number of equities research analysts have commented on EVEX shares. JPMorgan Chase & Co. decreased their price target on EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Cantor Fitzgerald dropped their price target on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.50 price objective on shares of EVE in a research report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.47.

EVE Stock Performance

The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average of $3.15 and a 200-day moving average of $3.92. The stock has a market capitalization of $886.42 million, a price-to-earnings ratio of -3.69 and a beta of 0.88.

EVE (NYSE:EVEX) last issued its earnings results on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). As a group, sell-side analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On EVE

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in EVE by 144.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares during the last quarter. Canal Insurance CO acquired a new stake in EVE during the 3rd quarter valued at approximately $38,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of EVE in the 3rd quarter valued at $42,000. SG Americas Securities LLC acquired a new stake in shares of EVE in the fourth quarter worth $45,000. Finally, Avidian Wealth Enterprises LLC acquired a new stake in shares of EVE in the third quarter worth $49,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Company Profile

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.