EVE (NYSE:EVEX) Trading 6.5% Higher – Should You Buy?

Eve Holding, Inc. (NYSE:EVEX)’s share price was up 6.5% on Monday . The stock traded as high as $2.33 and last traded at $2.3210. Approximately 309,881 shares were traded during trading, a decline of 74% from the average daily volume of 1,198,461 shares. The stock had previously closed at $2.18.

Analyst Upgrades and Downgrades

EVEX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a report on Friday, April 24th. Finally, Canaccord Genuity Group decreased their price target on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.02.

EVE Trading Up 9.9%

The stock’s 50 day simple moving average is $2.80 and its two-hundred day simple moving average is $3.11. The stock has a market capitalization of $834.18 million, a PE ratio of -3.28 and a beta of 1.13. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80.

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

Institutional Investors Weigh In On EVE

Large investors have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. lifted its holdings in EVE by 53.1% during the first quarter. J. Derek Lewis & Associates Inc. now owns 49,000 shares of the company’s stock valued at $122,000 after purchasing an additional 17,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of EVE by 50.2% in the first quarter. The Manufacturers Life Insurance Company now owns 50,742 shares of the company’s stock worth $126,000 after purchasing an additional 16,969 shares in the last quarter. Themes Management Co LLC bought a new stake in shares of EVE in the first quarter valued at approximately $30,000. Renaissance Technologies LLC purchased a new stake in shares of EVE during the 1st quarter valued at approximately $854,000. Finally, Canal Insurance CO lifted its stake in shares of EVE by 219.5% during the 1st quarter. Canal Insurance CO now owns 31,948 shares of the company’s stock valued at $79,000 after buying an additional 21,948 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.