Eve Holding, Inc. (NYSE:EVEX) Sees Significant Decrease in Short Interest

Eve Holding, Inc. (NYSE:EVEX) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,510,000 shares, a drop of 5.4% from the October 15th total of 3,710,000 shares. Based on an average daily trading volume, of 294,700 shares, the days-to-cover ratio is currently 11.9 days. Currently, 7.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of EVE in a research report on Tuesday, November 5th. HC Wainwright assumed coverage on EVE in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price objective on the stock.

EVE Stock Performance

Shares of EVE stock opened at $2.93 on Tuesday. The business has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $3.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. EVE has a 12 month low of $2.33 and a 12 month high of $7.57.

EVE (NYSE:EVEX) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, research analysts expect that EVE will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVEX. SG Americas Securities LLC bought a new position in shares of EVE during the third quarter valued at $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in EVE during the 3rd quarter valued at about $40,000. Readystate Asset Management LP bought a new stake in EVE during the 3rd quarter valued at about $83,000. Barclays PLC raised its holdings in EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after buying an additional 37,602 shares during the last quarter. Finally, Blair William & Co. IL bought a new position in shares of EVE in the second quarter worth approximately $190,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.