EVE (NYSE:EVEX) Stock Price Down 6.7% – What’s Next?

Eve Holding, Inc. (NYSE:EVEX)’s stock price traded down 6.7% during mid-day trading on Monday. The company traded as low as $2.03 and last traded at $2.0250. 217,602 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,137,041 shares. The stock had previously closed at $2.17.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective 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. Wall Street Zen raised shares of EVE from a “strong sell” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group set a $5.00 price objective on EVE in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Finally, D. Boral Capital initiated coverage on EVE in a research report on Friday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.93.

EVE Stock Performance

The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 13.65. The company has a market capitalization of $726.60 million, a PE ratio of -3.33 and a beta of 1.14. The company has a 50-day moving average price of $2.39 and a two-hundred day moving average price of $2.64.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.08. Analysts predict that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of EVE

A number of hedge funds and other institutional investors have recently bought and sold shares of EVEX. Sequoia Financial Advisors LLC bought a new stake in EVE during the second quarter valued at $25,000. Corient Private Wealth LP purchased a new stake in EVE in the second quarter valued at approximately $28,000. Themes Management Co LLC purchased a new stake in shares of EVE during the 1st quarter valued at $30,000. Pallas Capital Advisors LLC bought a new stake in EVE during the second quarter worth about $30,000. Finally, R Squared Ltd purchased a new position in shares of EVE during the 1st quarter valued at about $30,000. Institutional investors own 1.27% of the company’s stock.

EVE Company Profile

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.