EVE (NYSE:EVEX) Stock Price Down 8.2% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX)’s stock price dropped 8.2% during mid-day trading on Wednesday . The stock traded as low as $5.21 and last traded at $5.23. Approximately 65,469 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 260,561 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

EVEX has been the topic of several recent research reports. Canaccord Genuity Group increased their price target on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of EVE in a report on Tuesday, November 5th. Finally, TD Cowen upgraded EVE to a “hold” rating in a report on Thursday, December 19th.

EVE Stock Down 11.7 %

The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $3.53. The company has a market cap of $1.44 billion, a P/E ratio of -10.08 and a beta of 0.42.

EVE (NYSE:EVEX) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. During the same period in the previous year, the company earned ($0.11) EPS. On average, research analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Trading of EVE

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of EVE by 65.4% during the third quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock valued at $2,754,000 after acquiring an additional 336,133 shares during the last quarter. State Street Corp increased its position in shares of EVE by 3.8% during the third quarter. State Street Corp now owns 378,123 shares of the company’s stock valued at $1,225,000 after acquiring an additional 13,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in EVE by 63.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after buying an additional 129,300 shares during the last quarter. Blair William & Co. IL purchased a new stake in EVE in the second quarter worth $190,000. Finally, 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 during the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

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.