EVE (NYSE:EVEX) Stock Price Down 7.2% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s share price traded down 7.2% during mid-day trading on Tuesday . The company traded as low as $4.39 and last traded at $4.39. 46,815 shares traded hands during trading, a decline of 82% from the average session volume of 261,340 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th. TD Cowen upgraded shares of EVE to a “hold” rating in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group upped their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd.

EVE Trading Down 5.8 %

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 $4.87 and a 200-day moving average price of $3.71. The company has a market cap of $1.33 billion, a P/E ratio of -9.32 and a beta of 0.41.

Institutional Trading of EVE

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of EVE during the 3rd quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in EVE during the 3rd quarter valued at $40,000. Rhumbline Advisers boosted its position in EVE by 80.7% during the fourth quarter. Rhumbline Advisers now owns 28,069 shares of the company’s stock worth $153,000 after purchasing an additional 12,539 shares during the period. State Street Corp increased its holdings in shares of EVE by 3.8% in the third quarter. State Street Corp now owns 378,123 shares of the company’s stock valued at $1,225,000 after purchasing an additional 13,700 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of EVE in the fourth quarter valued at about $85,000. Institutional investors own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.