619,277 Shares in Eve Holding, Inc. $EVEX Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC purchased a new position in Eve Holding, Inc. (NYSE:EVEX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 619,277 shares of the company’s stock, valued at approximately $2,471,000. HITE Hedge Asset Management LLC owned 0.18% of EVE as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVEX. Vanguard Group Inc. grew its stake in EVE by 117.6% in the third quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after purchasing an additional 2,824,536 shares during the period. Cooper Creek Partners Management LLC purchased a new stake in shares of EVE in the third quarter worth $9,608,000. BW Gestao de Investimentos Ltda. purchased a new stake in shares of EVE in the third quarter worth $9,382,000. Centiva Capital LP purchased a new stake in shares of EVE in the third quarter worth $5,104,000. Finally, Masters Capital Management LLC grew its stake in shares of EVE by 52.5% in the third quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock worth $11,620,000 after acquiring an additional 1,050,000 shares during the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EVEX shares. JPMorgan Chase & Co. cut their target price on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Friday, April 24th. Cantor Fitzgerald cut their target price on EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, Canaccord Genuity Group cut their target price on EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.02.

EVE Trading Down 0.2%

Shares of NYSE:EVEX opened at $2.71 on Friday. The company has a market cap of $942.15 million, a P/E ratio of -3.71 and a beta of 1.09. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. Eve Holding, Inc. has a 1 year low of $2.34 and a 1 year high of $7.70. The stock’s fifty day moving average price is $2.93 and its 200-day moving average price is $3.45.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Sell-side analysts expect that Eve Holding, Inc. will post -0.73 earnings per share for the current year.

EVE Profile

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.