EVE (NYSE:EVEX) Stock Price Up 6.7% – Time to Buy?

Eve Holding, Inc. (NYSE:EVEX)’s stock price rose 6.7% on Tuesday . The stock traded as high as $5.49 and last traded at $5.43. Approximately 114,028 shares were traded during trading, a decline of 35% from the average daily volume of 174,874 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVEX. HC Wainwright began coverage on shares of EVE in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group increased their price target on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVE in a report on Tuesday, November 5th. Finally, TD Cowen upgraded EVE to a “hold” rating in a research note on Thursday, December 19th.

EVE Stock 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 business’s fifty day moving average price is $3.74 and its 200-day moving average price is $3.42. The stock has a market cap of $1.60 billion, a PE ratio of -11.21 and a beta of 0.53.

EVE (NYSE:EVEX) last issued 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 quarter in the previous year, the firm posted ($0.11) earnings per share. As a group, equities research analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

Institutional investors have recently made changes to their positions in the business. Blair William & Co. IL purchased a new stake in EVE during the second quarter valued at approximately $190,000. SG Americas Securities LLC bought a new stake in shares of EVE during the 3rd quarter valued at $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE in the 3rd quarter worth $40,000. Charles Schwab Investment Management Inc. raised its holdings in EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after purchasing an additional 129,300 shares during the period. Finally, Readystate Asset Management LP bought a new position in EVE in the 3rd quarter worth $83,000. Institutional investors own 1.27% of the company’s stock.

EVE Company Profile

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.