Canaccord Genuity Group Lowers EVE (NYSE:EVEX) Price Target to $8.50

EVE (NYSE:EVEX) had its price target lowered by equities research analysts at Canaccord Genuity Group from $9.00 to $8.50 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 159.94% from the company’s current price.

Separately, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $7.00 price objective on shares of EVE in a research note on Monday.

EVE Price Performance

Shares of EVE stock traded down $0.01 during trading hours on Tuesday, reaching $3.27. The company’s stock had a trading volume of 62,405 shares, compared to its average volume of 53,436. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.96 and a quick ratio of 4.96. EVE has a one year low of $3.15 and a one year high of $10.74. The firm has a 50 day moving average price of $4.92 and a 200-day moving average price of $5.69. The stock has a market cap of $880.84 million, a P/E ratio of -7.29 and a beta of 0.37.

EVE (NYSE:EVEX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter. On average, analysts predict that EVE will post -0.53 EPS for the current year.

Hedge Funds Weigh In On EVE

An institutional investor recently raised its position in EVE stock. Strs Ohio grew its stake in Eve Holding, Inc. (NYSE:EVEX) by 3,883.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,800 shares of the company’s stock after acquiring an additional 46,600 shares during the period. Strs Ohio’s holdings in EVE were worth $349,000 at the end of the most recent reporting period. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.