EVE (NYSE:EVEX) Shares Down 6.1% – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s stock price dropped 6.1% during mid-day trading on Wednesday . The stock traded as low as $3.54 and last traded at $3.48. Approximately 46,636 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 259,236 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

EVEX has been the topic of several recent research reports. TD Cowen upgraded EVE to a “hold” rating in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of EVE in a research report on Wednesday. Canaccord Genuity Group raised their price target on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of EVE in a research report on Friday.

EVE Trading Down 2.9 %

The company has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $3.91. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $948.00 million, a P/E ratio of -6.64 and a beta of 0.45.

EVE (NYSE:EVEX) last posted its earnings results on Friday, March 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. On average, sell-side analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of EVE by 118.0% in the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock valued at $30,000 after purchasing an additional 3,001 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of EVE by 257.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock valued at $29,000 after purchasing an additional 3,850 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of EVE in the fourth quarter valued at about $34,000. Jane Street Group LLC lifted its holdings in shares of EVE by 64.8% in the fourth quarter. Jane Street Group LLC now owns 17,322 shares of the company’s stock valued at $94,000 after purchasing an additional 6,810 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of EVE by 65.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,928 shares of the company’s stock valued at $109,000 after purchasing an additional 7,919 shares in the last quarter. 1.27% of the stock is currently owned by institutional investors.

About EVE

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.