EVE (NYSE:EVEX) Reaches New 12-Month Low – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) shares reached a new 52-week low during trading on Monday . The company traded as low as $2.34 and last traded at $2.4250, with a volume of 346470 shares. The stock had previously closed at $2.43.

Wall Street Analysts Forecast Growth

EVEX has been the topic of several research reports. Cantor Fitzgerald lowered their target price on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. JPMorgan Chase & Co. decreased their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. The Goldman Sachs Group initiated coverage on shares of EVE in a research note on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $7.50 target price on shares of EVE in a report on Wednesday, March 18th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EVE currently has a consensus rating of “Hold” and an average price target of $6.47.

EVE Stock Performance

The stock has a market cap of $827.22 million, a price-to-earnings ratio of -3.44 and a beta of 0.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.29 and a quick ratio of 3.29. The stock’s 50-day moving average is $3.24 and its 200-day moving average is $3.94.

EVE (NYSE:EVEX) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Analysts anticipate that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in EVE by 117.6% during the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after buying an additional 2,824,536 shares during the period. BW Gestao de Investimentos Ltda. grew its holdings in EVE by 49.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after buying an additional 1,223,719 shares during the period. Masters Capital Management LLC increased its stake in shares of EVE by 52.5% during the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock valued at $11,620,000 after acquiring an additional 1,050,000 shares during the last quarter. SPX Gestao de Recursos Ltda increased its stake in shares of EVE by 383.1% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after acquiring an additional 2,256,701 shares during the last quarter. Finally, United Airlines Holdings Inc. purchased a new position in shares of EVE during the 4th quarter worth about $10,589,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Company Profile

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.