HITE Hedge Asset Management LLC Invests $2.47 Million in Eve Holding, Inc. $EVEX

HITE Hedge Asset Management LLC acquired a new position in Eve Holding, Inc. (NYSE:EVEX) during the 4th quarter, Holdings Channel reports. The firm acquired 619,277 shares of the company’s stock, valued at approximately $2,471,000.

Several other institutional investors have also recently made changes to their positions in the business. Amundi lifted its stake in shares of EVE by 10.7% in the 3rd quarter. Amundi now owns 30,426 shares of the company’s stock worth $116,000 after purchasing an additional 2,941 shares during the period. BNP Paribas Financial Markets raised its stake in shares of EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares during the period. AXQ Capital LP raised its stake in shares of EVE by 32.6% in the third quarter. AXQ Capital LP now owns 14,211 shares of the company’s stock worth $54,000 after buying an additional 3,490 shares during the period. Bank of America Corp DE raised its stake in shares of EVE by 13.1% in the third quarter. Bank of America Corp DE now owns 43,324 shares of the company’s stock worth $165,000 after buying an additional 5,025 shares during the period. Finally, Aureus Asset Management LLC raised its stake in shares of EVE by 56.0% in the third quarter. Aureus Asset Management LLC now owns 19,500 shares of the company’s stock worth $74,000 after buying an additional 7,000 shares during the period. Institutional investors own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EVEX shares. Cantor Fitzgerald decreased their price objective on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Canaccord Genuity Group decreased their price objective on EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.02.

EVE Stock Performance

NYSE:EVEX opened at $2.71 on Friday. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 5.45. Eve Holding, Inc. has a 12-month low of $2.34 and a 12-month high of $7.70. The stock has a 50-day moving average price of $2.93 and a 200 day moving average price of $3.45. The stock has a market capitalization of $942.15 million, a P/E ratio of -3.71 and a beta of 1.09.

EVE (NYSE:EVEX) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Equities research analysts forecast that Eve Holding, Inc. will post -0.73 EPS for the current fiscal year.

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.