EVE (NYSE:EVEX) Hits New 52-Week Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.23 and last traded at $2.2850, with a volume of 1566583 shares changing hands. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. Canaccord Genuity Group reduced their price objective on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Cantor Fitzgerald decreased their price objective on EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. lowered 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. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.02.

EVE Stock Down 5.6%

The company has a debt-to-equity ratio of 5.45, a quick ratio of 3.80 and a current ratio of 3.80. The firm has a market cap of $795.87 million, a price-to-earnings ratio of -3.13 and a beta of 1.13. The business’s 50 day moving average price is $2.87 and its 200 day moving average price is $3.16.

EVE (NYSE:EVEX) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). On average, equities analysts forecast that Eve Holding, Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi raised its position in shares of EVE by 10.7% in the third quarter. Amundi now owns 30,426 shares of the company’s stock worth $116,000 after acquiring an additional 2,941 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of EVE by 144.8% during the 2nd 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 in the last quarter. Bank of America Corp DE grew its position in shares of EVE by 13.1% during the 3rd quarter. Bank of America Corp DE now owns 43,324 shares of the company’s stock valued at $165,000 after acquiring an additional 5,025 shares during the period. SG Americas Securities LLC grew its position in shares of EVE by 52.3% during the 1st quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock valued at $42,000 after acquiring an additional 5,840 shares during the period. Finally, Invesco Ltd. increased its stake in shares of EVE by 47.0% in the 4th quarter. Invesco Ltd. now owns 20,038 shares of the company’s stock valued at $80,000 after purchasing an additional 6,403 shares in the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.