EVE (NYSE:EVEX) Shares Down 5.7% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX) shares dropped 5.7% during mid-day trading on Friday. The company traded as low as $1.58 and last traded at $1.5750. Approximately 520,563 shares were traded during trading, a decline of 54% from the average daily volume of 1,132,802 shares. The stock had previously closed at $1.67.

Analyst Ratings Changes

EVEX has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on EVE from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. D. Boral Capital started coverage on shares of EVE in a research report on Friday, August 21st. They set a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Jefferies Financial Group set a $5.00 target price on EVE in a research report on Wednesday, August 5th. Finally, Wall Street Zen lowered EVE from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, EVE presently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

EVE Stock Down 5.1%

The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 13.65. The company has a market capitalization of $552.36 million, a price-to-earnings ratio of -2.54 and a beta of 1.19. The business’s 50-day moving average is $2.28 and its 200-day moving average is $2.58.

EVE (NYSE:EVEX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.08. As a group, equities analysts predict 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. purchased a new stake in shares of EVE during the 2nd quarter valued at approximately $17,742,000. Kapitalo Investimentos Ltda purchased a new position in EVE in the second quarter valued at approximately $2,761,000. SPX Gestao de Recursos Ltda purchased a new stake in EVE in the second quarter valued at $1,041,000. Renaissance Technologies LLC purchased a new position in shares of EVE during the first quarter worth about $854,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of EVE during the fourth quarter worth about $2,471,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.