EVE (NYSE:EVEX) Reaches New 52-Week Low – Time to Sell?

Eve Holding, Inc. (NYSE:EVEX) reached a new 52-week low during trading on Friday . The stock traded as low as $2.34 and last traded at $2.3250, with a volume of 2160877 shares. The stock had previously closed at $2.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EVEX shares. Canaccord Genuity Group reduced their price objective on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Cantor Fitzgerald cut 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, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, EVE has an average rating of “Hold” and an average target price of $6.02.

EVE Trading Down 0.2%

The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $844.63 million, a PE ratio of -3.32 and a beta of 1.09. The business’s 50-day moving average is $2.94 and its two-hundred day moving average is $3.34.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). On average, analysts anticipate that Eve Holding, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of EVE during the first quarter worth approximately $30,000. Themes Management Co LLC purchased a new position in EVE during the 1st quarter worth $30,000. Deltec Asset Management LLC purchased a new position in EVE during the 1st quarter worth $33,000. BNP Paribas Financial Markets grew 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 purchasing an additional 3,121 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in EVE by 52.3% in the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock valued at $42,000 after purchasing an additional 5,840 shares during the period. Hedge funds and other institutional investors own 1.27% of the company’s stock.

About EVE

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.