EVE (NYSE:EVEX) Stock Price Down 4.9% – Here’s Why

Shares of Eve Holding, Inc. (NYSE:EVEX) dropped 4.9% during mid-day trading on Thursday . The stock traded as low as $4.42 and last traded at $4.42. Approximately 159,788 shares traded hands during trading, a decline of 1% from the average daily volume of 161,203 shares. The stock had previously closed at $4.65.

Analyst Upgrades and Downgrades

EVEX has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of EVE in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, HC Wainwright assumed coverage on shares of EVE in a research note on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price objective for the company.

EVE Stock Performance

The company has a market cap of $1.38 billion, a P/E ratio of -9.69 and a beta of 0.53. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $3.60 and a 200-day moving average price of $3.42.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of EVE

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in EVE in the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in EVE in the 3rd quarter valued at about $40,000. State Street Corp raised its holdings in EVE by 3.8% in the 3rd quarter. State Street Corp now owns 378,123 shares of the company’s stock valued at $1,225,000 after acquiring an additional 13,700 shares during the period. Franklin Resources Inc. bought a new position in EVE in the 3rd quarter valued at about $53,000. Finally, Readystate Asset Management LP bought a new position in EVE in the 3rd quarter valued at about $83,000. 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.