Canaccord Genuity Group Forecasts Strong Price Appreciation for EVE (NYSE:EVEX) Stock

EVE (NYSE:EVEX) had its price objective increased by investment analysts at Canaccord Genuity Group from $6.75 to $7.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 64.32% from the stock’s current price.

Several other brokerages have also recently weighed in on EVEX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of EVE in a research report on Tuesday, November 5th. HC Wainwright assumed coverage on EVE in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price objective on the stock.

EVE Price Performance

Shares of NYSE:EVEX opened at $4.26 on Monday. EVE has a fifty-two week low of $2.33 and a fifty-two week high of $7.57. 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 firm has a fifty day moving average price of $3.28 and a 200 day moving average price of $3.49. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -8.87 and a beta of 0.53.

EVE (NYSE:EVEX) last released its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same period in the prior year, the company posted ($0.11) EPS. As a group, sell-side analysts expect that EVE will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of EVE during the third quarter worth $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in EVE in the 3rd quarter valued at $40,000. Franklin Resources Inc. acquired a new stake in shares of EVE in the third quarter valued at about $53,000. Readystate Asset Management LP purchased a new stake in EVE during the 3rd quarter worth approximately $83,000. Finally, Barclays PLC increased its position in shares of EVE by 594.1% during the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after purchasing an additional 37,602 shares in the last quarter. Hedge funds and other 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.