EVE (NYSE:EVEX) Shares Up 4.8% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) shares rose 4.8% on Friday . The stock traded as high as $4.78 and last traded at $4.62. Approximately 28,384 shares were traded during trading, a decline of 82% from the average daily volume of 156,973 shares. The stock had previously closed at $4.41.

Analysts Set New Price Targets

EVEX has been the topic of several analyst reports. Canaccord Genuity Group upped their price objective on EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target on shares of EVE in a report on Tuesday, November 5th. Finally, HC Wainwright initiated coverage on EVE in a report on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price objective for the company.

EVE Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21. The stock has a market capitalization of $1.40 billion, a P/E ratio of -9.81 and a beta of 0.53. The firm has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $3.42.

EVE (NYSE:EVEX) last announced its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same period in the previous year, the firm earned ($0.11) earnings per share. As a group, analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of EVE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. purchased a new stake in shares of EVE in the 3rd quarter worth $53,000. Barclays PLC increased its position in EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after buying an additional 37,602 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EVE by 65.4% in the third quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock worth $2,754,000 after buying an additional 336,133 shares during the period. State Street Corp lifted its position in shares of EVE by 3.8% during the 3rd quarter. State Street Corp now owns 378,123 shares of the company’s stock valued at $1,225,000 after buying an additional 13,700 shares in the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of EVE during the 3rd quarter valued at approximately $83,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.