EVE (NYSE:EVEX) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of EVE (NYSE:EVEX) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st. Jefferies Financial Group set a $5.00 price target on EVE in a research note on Wednesday, August 5th. D. Boral Capital began coverage on EVE in a research report on Friday, August 21st. They issued a “buy” rating and a $6.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, EVE has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

EVE Price Performance

Shares of EVE stock opened at $2.23 on Friday. The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48. The firm’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.74. EVE has a twelve month low of $2.10 and a twelve month high of $5.16. The firm has a market cap of $777.13 million, a P/E ratio of -3.60 and a beta of 1.14.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. As a group, research analysts expect that EVE will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On EVE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of EVE during the second quarter worth approximately $17,742,000. Vanguard Group Inc. grew its stake in shares of EVE by 117.6% during the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after purchasing an additional 2,824,536 shares during the last quarter. United Airlines Holdings Inc. acquired a new stake in shares of EVE in the fourth quarter valued at approximately $10,589,000. Cooper Creek Partners Management LLC acquired a new stake in shares of EVE in the third quarter valued at approximately $9,608,000. Finally, SPX Gestao de Recursos Ltda raised its position in EVE by 383.1% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock worth $11,354,000 after purchasing an additional 2,256,701 shares during the last quarter. Institutional investors and hedge funds 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.