EVE (NYSE:EVEX) Stock Price Up 8.4% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX) shot up 8.4% during mid-day trading on Thursday . The company traded as high as $5.00 and last traded at $4.9650. 232,393 shares changed hands during trading, a decline of 67% from the average session volume of 703,336 shares. The stock had previously closed at $4.58.

Analyst Ratings Changes

A number of research firms have weighed in on EVEX. Canaccord Genuity Group lifted their price objective on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a research report on Monday, November 24th. JPMorgan Chase & Co. dropped their price objective on EVE from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group initiated coverage on EVE in a research report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.47.

EVE Price Performance

The stock’s fifty day moving average price is $4.37 and its 200-day moving average price is $4.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 5.21 and a quick ratio of 5.21. The firm has a market cap of $1.67 billion, a PE ratio of -7.39 and a beta of 0.83.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On EVE

Several hedge funds and other institutional investors have recently made changes to their positions in EVEX. Vanguard Group Inc. boosted its stake in EVE by 117.6% during the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after buying an additional 2,824,536 shares during the last quarter. Masters Capital Management LLC raised its holdings in shares of EVE by 52.5% during the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock worth $11,620,000 after acquiring an additional 1,050,000 shares during the period. Cooper Creek Partners Management LLC purchased a new position in shares of EVE during the 3rd quarter worth $9,608,000. BW Gestao de Investimentos Ltda. acquired a new position in shares of EVE during the 3rd quarter valued at about $9,382,000. Finally, Centiva Capital LP purchased a new stake in shares of EVE in the third quarter valued at about $5,104,000. Institutional investors and hedge funds 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.