EVE (NYSE:EVEX) Hits New 1-Year Low – What’s Next?

Shares of Eve Holding, Inc. (NYSE:EVEX) reached a new 52-week low on Thursday . The stock traded as low as $2.06 and last traded at $2.1350, with a volume of 70424 shares trading hands. The stock had previously closed at $2.15.

Analysts Set New Price Targets

EVEX has been the subject of a number of analyst reports. D. Boral Capital started coverage on EVE in a research report on Friday, August 21st. They set a “buy” rating and a $6.00 price objective for the company. JPMorgan Chase & Co. increased their target price on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group set a $5.00 target price on EVE in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of EVE from a “sell” rating to a “strong sell” rating in a report on Saturday, September 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.93.

EVE Stock Down 0.7%

The firm has a market cap of $744.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.14. The firm’s fifty day moving average is $2.47 and its two-hundred day moving average is $2.72. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48.

EVE (NYSE:EVEX) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.08. On average, sell-side analysts expect that Eve Holding, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On EVE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in EVE during the 2nd quarter valued at $17,742,000. Vanguard Group Inc. raised its stake in shares of EVE by 117.6% in the 3rd 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 in the last quarter. United Airlines Holdings Inc. bought a new stake in shares of EVE in the 4th quarter worth $10,589,000. Cooper Creek Partners Management LLC acquired a new stake in shares of EVE in the third quarter valued at $9,608,000. Finally, SPX Gestao de Recursos Ltda lifted its holdings in shares of EVE by 383.1% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after buying an additional 2,256,701 shares during the period. Institutional investors 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.