Brokerages Set Eve Holding, Inc. (NYSE:EVEX) Target Price at $6.02

Shares of Eve Holding, Inc. (NYSE:EVEX) have been given an average recommendation of “Hold” by the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.0225.

EVEX has been the subject of several analyst reports. Canaccord Genuity Group lowered their price objective on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st.

Hedge Funds Weigh In On EVE

Several large investors have recently bought and sold shares of EVEX. Vanguard Group Inc. grew its stake in shares of EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after acquiring an additional 2,824,536 shares in the last quarter. BW Gestao de Investimentos Ltda. raised its holdings in shares of EVE by 49.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after purchasing an additional 1,223,719 shares during the last quarter. Masters Capital Management LLC lifted its position in shares of EVE by 52.5% during the third quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock valued at $11,620,000 after purchasing an additional 1,050,000 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its position in shares of EVE by 383.1% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after purchasing an additional 2,256,701 shares in the last quarter. Finally, United Airlines Holdings Inc. purchased a new position in EVE during the fourth quarter worth about $10,589,000. 1.27% of the stock is currently owned by institutional investors.

EVE Stock Up 4.7%

Shares of NYSE EVEX opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $2.99. The stock has a market capitalization of $813.28 million, a P/E ratio of -3.20 and a beta of 1.13. EVE has a 1 year low of $2.10 and a 1 year high of $6.89.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). On average, equities research analysts forecast that EVE 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.