EVE (NYSE:EVEX) Stock Price Up 9.4% – Time to Buy?

Eve Holding, Inc. (NYSE:EVEX) rose 9.4% on Thursday. The stock traded as high as $1.55 and last traded at $1.5650. Approximately 417,413 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,129,832 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

EVEX has been the topic of several recent analyst reports. Wall Street Zen cut shares of EVE from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a report on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on shares of EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group set a $5.00 target price on shares of EVE in a research note on Wednesday, August 5th. Finally, D. Boral Capital started coverage on shares of EVE in a research report on Friday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, EVE currently has an average rating of “Moderate Buy” and an average price target of $5.93.

EVE Stock Down 2.7%

The company has a market cap of $566.30 million, a P/E ratio of -2.62 and a beta of 1.19. The company’s 50-day moving average is $2.16 and its two-hundred day moving average is $2.54. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.08. As a group, equities analysts predict that Eve Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of EVE

Several hedge funds have recently bought and sold shares of EVEX. BlackRock Inc. purchased a new position in shares of EVE during the 2nd quarter valued at about $17,742,000. Kapitalo Investimentos Ltda purchased a new stake in EVE in the 2nd quarter worth approximately $2,761,000. SPX Gestao de Recursos Ltda purchased a new stake in EVE in the 2nd quarter worth approximately $1,041,000. Renaissance Technologies LLC purchased a new stake in EVE in the 1st quarter worth approximately $854,000. Finally, Ieq Capital LLC bought a new stake in EVE during the 2nd quarter worth approximately $685,000. Institutional investors own 1.27% of the company’s stock.

About EVE

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.