EVE (NYSE:EVEX) Sets New 52-Week Low – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $1.55 and last traded at $1.5650, with a volume of 902,413 shares. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EVEX. Wall Street Zen lowered shares of EVE from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. D. Boral Capital started coverage on shares of EVE in a report on Friday, August 21st. They set a “buy” rating and a $6.00 price objective on the stock. JPMorgan Chase & Co. upped 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group set a $5.00 target price on shares of EVE in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.93.

EVE Price Performance

The company has a market cap of $545.39 million, a price-to-earnings ratio of -2.52 and a beta of 1.19. The company has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $2.57. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. As a group, equities research analysts anticipate that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in EVE in the second quarter valued at about $25,000. Corient Private Wealth LP acquired a new position in EVE in the second quarter worth about $28,000. Themes Management Co LLC bought a new position in EVE during the first quarter worth about $30,000. Pallas Capital Advisors LLC bought a new position in EVE during the second quarter worth about $30,000. Finally, R Squared Ltd bought a new position in EVE during the first quarter worth about $30,000. 1.27% of the stock is owned by institutional investors.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.