Eve Holding, Inc. (NYSE:EVEX) Sees Significant Drop in Short Interest

Eve Holding, Inc. (NYSE:EVEX) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,510,000 shares, a drop of 5.4% from the October 15th total of 3,710,000 shares. Approximately 7.1% of the shares of the stock are short sold. Based on an average trading volume of 294,700 shares, the short-interest ratio is presently 11.9 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in EVE during the 3rd quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of EVE in the third quarter worth approximately $40,000. State Street Corp increased its stake in shares of EVE by 3.8% in the third quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after buying an additional 13,700 shares during the period. Readystate Asset Management LP bought a new stake in EVE during the 3rd quarter valued at $83,000. Finally, Vanguard Group Inc. boosted its position in EVE by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after buying an additional 34,484 shares during the period. Hedge funds and other institutional investors own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

EVEX has been the topic of several research analyst reports. HC Wainwright assumed coverage on shares of EVE in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVE in a research report on Tuesday, November 5th.

EVE Trading Down 2.3 %

Shares of EVEX opened at $2.93 on Tuesday. EVE has a 1 year low of $2.33 and a 1 year high of $7.57. The stock has a 50 day simple moving average of $3.13 and a two-hundred day simple moving average of $3.62. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last released its earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the business posted ($0.11) EPS. On average, equities analysts anticipate that EVE will post -0.5 EPS for the current fiscal year.

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.