EVE (NYSE:EVEX) Stock Price Up 14.7% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX) shares shot up 14.7% during trading on Wednesday . The stock traded as high as $3.04 and last traded at $3.0850. 708,206 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,232,829 shares. The stock had previously closed at $2.69.

Analyst Ratings Changes

A number of research analysts recently weighed in on EVEX shares. Canaccord Genuity Group set a $7.25 price objective on EVE in a report on Wednesday. Cantor Fitzgerald decreased their target price on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. Four equities 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.42.

EVE Stock Up 19.5%

The firm has a 50 day moving average of $2.77 and a two-hundred day moving average of $3.67. The stock has a market capitalization of $1.12 billion, a PE ratio of -4.66 and a beta of 1.04. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 1.49.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Equities research analysts anticipate that Eve Holding, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On EVE

Several hedge funds have recently added to or reduced their stakes in EVEX. BNP Paribas Financial Markets raised its position in EVE by 144.8% during the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after acquiring an additional 3,121 shares during the last quarter. Canal Insurance CO acquired a new stake in shares of EVE in the third quarter valued at approximately $38,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of EVE in the second quarter valued at approximately $69,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of EVE during the 3rd quarter worth approximately $42,000. Finally, SG Americas Securities LLC purchased a new position in shares of EVE during the 4th quarter worth approximately $45,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

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.