EVE (NYSE:EVEX) Reaches New 52-Week Low – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.06 and last traded at $2.1250, with a volume of 1274793 shares. The stock had previously closed at $2.12.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EVEX. D. Boral Capital initiated coverage on EVE in a report on Friday, August 21st. They issued 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 report on Wednesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Wall Street Zen cut EVE from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. Finally, Jefferies Financial Group set a $5.00 price target on EVE in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EVE presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

EVE Trading Up 3.8%

The firm has a market capitalization of $719.63 million, a price-to-earnings ratio of -3.33 and a beta of 1.14. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. The firm’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.68.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. Equities analysts expect that Eve Holding, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of EVE

Several large investors have recently bought and sold shares of EVEX. BlackRock Inc. bought a new position in EVE in the 2nd quarter valued at approximately $17,742,000. BW Gestao de Investimentos Ltda. boosted its position in EVE by 49.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock valued at $14,708,000 after buying an additional 1,223,719 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of EVE during the second quarter worth $2,761,000. HITE Hedge Asset Management LLC bought a new stake in shares of EVE during the fourth quarter worth $2,471,000. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of EVE during the second quarter worth $1,041,000. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.