EVE (NYSE:EVEX) Stock Price Down 6.1% – Time to Sell?

Eve Holding, Inc. (NYSE:EVEX)’s stock price dropped 6.1% during mid-day trading on Monday . The company traded as low as $4.22 and last traded at $4.2060. Approximately 138,561 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 946,867 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EVEX shares. JPMorgan Chase & Co. decreased their price objective on EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of EVE in a report on Monday, November 24th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on shares of EVE in a research note on Monday, December 1st. They set a “neutral” rating and a $4.84 price objective for the company. Finally, Canaccord Genuity Group increased their target price on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.47.

EVE Stock Down 2.3%

The company has a debt-to-equity ratio of 0.91, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.27 and a beta of 0.83. The business’s 50 day moving average is $4.40 and its 200 day moving average is $4.65.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Sell-side analysts anticipate that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVEX. AQR Capital Management LLC lifted its holdings in shares of EVE by 167.8% during the first quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock worth $174,000 after purchasing an additional 32,868 shares during the period. Strs Ohio purchased a new position in EVE during the 1st quarter worth approximately $75,000. Rhumbline Advisers lifted its stake in EVE by 25.5% during the 1st quarter. Rhumbline Advisers now owns 35,223 shares of the company’s stock valued at $117,000 after acquiring an additional 7,154 shares during the period. Ethic Inc. boosted its holdings in shares of EVE by 54.6% in the 2nd quarter. Ethic Inc. now owns 22,300 shares of the company’s stock valued at $149,000 after acquiring an additional 7,874 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of EVE by 432.2% in the second quarter. Pinnacle Associates Ltd. now owns 226,945 shares of the company’s stock worth $1,557,000 after acquiring an additional 184,305 shares during the period. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.