Eve Holding, Inc. (NYSE:EVEX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Eve Holding, Inc. (NYSE:EVEX) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.4680.

EVEX has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of EVE in a research report on Monday, November 24th. Canaccord Genuity Group upped their price target on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research note on Thursday, October 16th. The Goldman Sachs Group assumed coverage on shares of EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price target on the stock. JPMorgan Chase & Co. reduced their price objective on EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research report on Wednesday, October 8th.

EVE Stock Performance

Shares of NYSE EVEX opened at $3.80 on Tuesday. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.84 and a beta of 0.83. EVE has a 12 month low of $2.83 and a 12 month high of $7.70. The stock has a 50 day moving average of $4.41 and a 200-day moving average of $4.56.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. As a group, equities research analysts predict that EVE will post -0.5 EPS for the current year.

Hedge Funds Weigh In On EVE

Hedge funds have recently bought and sold shares of the business. Kapitalo Investimentos Ltda boosted its holdings in shares of EVE by 120.0% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,100,000 shares of the company’s stock valued at $4,191,000 after purchasing an additional 600,000 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of EVE by 432.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 226,945 shares of the company’s stock worth $1,557,000 after buying an additional 184,305 shares in the last quarter. Sagil Capital LLP bought a new stake in shares of EVE during the 2nd quarter worth $1,908,000. Ethic Inc. boosted its stake in EVE by 54.6% in the second quarter. Ethic Inc. now owns 22,300 shares of the company’s stock valued at $149,000 after buying an additional 7,874 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in EVE by 236.9% in the second quarter. Itau Unibanco Holding S.A. now owns 80,000 shares of the company’s stock valued at $549,000 after acquiring an additional 56,252 shares during the last quarter. 1.27% of the stock is owned by institutional investors.

About EVE

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.