EVE (NYSE:EVEX) Trading Down 8.6% After Earnings Miss

Eve Holding, Inc. (NYSE:EVEX) was down 8.6% on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $2.64 and last traded at $2.6050. Approximately 1,125,227 shares were traded during trading, a decline of 8% from the average daily volume of 1,226,995 shares. The stock had previously closed at $2.85.

The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05).

Analyst Ratings Changes

EVEX has been the subject of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $7.50 price objective on shares of EVE in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald decreased their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in EVE by 117.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after purchasing an additional 2,824,536 shares during the period. BW Gestao de Investimentos Ltda. lifted its stake in shares of EVE by 49.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock worth $14,708,000 after acquiring an additional 1,223,719 shares during the period. Masters Capital Management LLC lifted its stake in shares of EVE by 52.5% in the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock worth $11,620,000 after acquiring an additional 1,050,000 shares during the period. SPX Gestao de Recursos Ltda lifted its stake in shares of EVE by 383.1% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock worth $11,354,000 after acquiring an additional 2,256,701 shares during the period. Finally, United Airlines Holdings Inc. acquired a new stake in shares of EVE in the 4th quarter worth approximately $10,589,000. 1.27% of the stock is owned by institutional investors and hedge funds.

EVE Trading Down 8.9%

The business’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $3.69. The company has a market capitalization of $903.84 million, a price-to-earnings ratio of -3.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.29 and a current ratio of 3.29.

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.