Eve Holding, Inc. (NYSE:EVEX) Stock Has Average Price Target of $5.93

Shares of Eve Holding, Inc. (NYSE:EVEX) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.89.

A number of analysts have commented on the company. Jefferies Financial Group set a $5.00 price objective on EVE in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price objective on EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research note on Monday, October 19th. Canaccord Genuity Group reduced their target price on EVE from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Friday. Finally, D. Boral Capital initiated coverage on EVE in a research report on Friday, August 21st. They issued a “buy” rating and a $6.00 target price for the company.

Hedge Funds Weigh In On EVE

Hedge funds have recently made changes to their positions in the business. Pier 88 Investment Partners LLC grew its stake in shares of EVE by 62.9% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 91,900 shares of the company’s stock valued at $177,000 after purchasing an additional 35,500 shares during the period. J. Derek Lewis & Associates Inc. boosted its holdings in EVE by 129.5% in the third quarter. J. Derek Lewis & Associates Inc. now owns 280,000 shares of the company’s stock valued at $540,000 after acquiring an additional 158,000 shares during the last quarter. Canal Insurance CO raised its position in shares of EVE by 213.0% during the 3rd quarter. Canal Insurance CO now owns 100,000 shares of the company’s stock valued at $193,000 after acquiring an additional 68,052 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of EVE in the 2nd quarter valued at $25,000. Finally, Arizona State Retirement System boosted its position in shares of EVE by 37.7% in the 2nd quarter. Arizona State Retirement System now owns 26,430 shares of the company’s stock worth $66,000 after purchasing an additional 7,235 shares during the last quarter. Institutional investors and hedge funds own 1.27% of the company’s stock.

EVE Stock Performance

NYSE:EVEX opened at $1.94 on Thursday. The firm’s 50-day moving average is $1.86 and its 200-day moving average is $2.61. EVE has a 52-week low of $1.41 and a 52-week high of $5.16. The company has a debt-to-equity ratio of 13.65, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $674.33 million, a price-to-earnings ratio of -3.02 and a beta of 1.25.

EVE (NYSE:EVEX) last released its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. Equities research analysts anticipate that EVE will post -0.69 earnings per share for the current year.

EVE Company Profile

Eve Air Mobility, formerly known as Eve Holding, Inc, develops electric vertical takeoff and landing (eVTOL) aircraft and related urban air mobility solutions. The company is focused on creating quieter, lower-emission transportation options for short urban and regional trips, including passenger flights, airport transfers and other specialized missions.

Its primary product is an eVTOL aircraft designed to operate using electric propulsion and vertical takeoff and landing capabilities.