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

Eve Holding, Inc. (NYSE:EVEX) shares reached a new 52-week low on Thursday . The company traded as low as $2.06 and last traded at $2.1350, with a volume of 70424 shares. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EVEX. D. Boral Capital started coverage on EVE in a report on Friday, August 21st. They set a “buy” rating and a $6.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group set a $5.00 price objective on shares of EVE in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of EVE from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

EVE Stock Performance

The firm’s fifty day moving average is $2.45 and its 200 day moving average is $2.70. The firm has a market capitalization of $740.53 million, a price-to-earnings ratio of -3.43 and a beta of 1.14. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. On average, analysts predict that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in EVE by 167.8% during the first quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock valued at $174,000 after acquiring an additional 32,868 shares during the period. Strs Ohio bought a new position in shares of EVE in the first quarter worth about $75,000. Rhumbline Advisers increased its stake in shares of EVE by 25.5% in the first quarter. Rhumbline Advisers now owns 35,223 shares of the company’s stock worth $117,000 after purchasing an additional 7,154 shares during the period. Legal & General Group Plc lifted its position in shares of EVE by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 165,336 shares of the company’s stock worth $1,134,000 after purchasing an additional 8,108 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of EVE during the 2nd quarter worth about $326,000. 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.