EVE (NYSE:EVEX) Trading Down 6.1% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EVEX shares. Canaccord Genuity Group increased their price objective on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of EVE in a research note on Wednesday. Finally, TD Cowen upgraded shares of EVE to a “hold” rating in a research report on Thursday, December 19th.

EVE Price Performance

The company has a 50-day moving average price of $4.63 and a 200-day moving average price of $3.92. The firm has a market capitalization of $1.02 billion, a P/E ratio of -7.14 and a beta of 0.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX) last issued its quarterly earnings data on Friday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. On average, sell-side analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

A number of large investors have recently made changes to their positions in the company. Legal & General Group Plc grew its stake in 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 acquiring an additional 3,001 shares during the period. Summit Investment Advisors Inc. increased its stake in EVE by 257.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock worth $29,000 after purchasing an additional 3,850 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in EVE during the 4th quarter worth approximately $34,000. Jane Street Group LLC lifted its stake in 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 buying an additional 6,810 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 7,919 shares in the last quarter. Institutional investors own 1.27% of the company’s stock.

EVE Company Profile

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.