EVE (NYSE:EVEX) Price Target Lowered to $6.00 at Cantor Fitzgerald

EVE (NYSE:EVEX) had its target price cut by equities research analysts at Cantor Fitzgerald from $7.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 137.15% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $7.50 price target on shares of EVE in a research report on Wednesday. The Goldman Sachs Group started coverage on EVE in a research note on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.67.

EVE Stock Down 1.6%

Shares of EVEX stock opened at $2.53 on Wednesday. The stock has a 50 day moving average of $3.56 and a 200-day moving average of $4.02. EVE has a 12 month low of $2.43 and a 12 month high of $7.70. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.91. The firm has a market cap of $881.21 million, a PE ratio of -3.65 and a beta of 0.88.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). On average, equities analysts predict that EVE will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after acquiring an additional 3,121 shares during the last quarter. Canal Insurance CO acquired a new position in shares of EVE during the 3rd quarter worth about $38,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of EVE in the 3rd quarter valued at about $42,000. SG Americas Securities LLC bought a new stake in shares of EVE in the 4th quarter valued at about $45,000. Finally, Avidian Wealth Enterprises LLC acquired a new stake in EVE in the 3rd quarter valued at about $49,000. 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.