EVE (NYSE:EVEX) Sets New 1-Year Low – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $2.34 and last traded at $2.3250, with a volume of 2160877 shares trading hands. The stock had previously closed at $2.43.

Analyst Upgrades and Downgrades

EVEX has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their target price on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Cantor Fitzgerald reduced their price target on EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Finally, Canaccord Genuity Group lowered their price target on EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Three 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.02.

EVE Price Performance

The business has a 50-day simple moving average of $2.95 and a two-hundred day simple moving average of $3.35. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $844.63 million, a price-to-earnings ratio of -3.30 and a beta of 1.09.

EVE (NYSE:EVEX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). As a group, research analysts predict that Eve Holding, Inc. will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

Several hedge funds have recently made changes to their positions in the business. J. Derek Lewis & Associates Inc. lifted its stake in EVE by 53.1% during the first quarter. J. Derek Lewis & Associates Inc. now owns 49,000 shares of the company’s stock valued at $122,000 after purchasing an additional 17,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of EVE by 50.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 50,742 shares of the company’s stock worth $126,000 after acquiring an additional 16,969 shares in the last quarter. Themes Management Co LLC acquired a new position in shares of EVE in the 1st quarter worth $30,000. Renaissance Technologies LLC purchased a new stake in shares of EVE during the first quarter valued at $854,000. Finally, Canal Insurance CO increased its stake in EVE by 219.5% in the 1st quarter. Canal Insurance CO now owns 31,948 shares of the company’s stock worth $79,000 after purchasing an additional 21,948 shares in the last quarter. Institutional investors and hedge funds own 1.27% of the company’s stock.

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.