EVE (NYSE:EVEX) Trading Down 4.5% - Here's Why

Eve Holding, Inc. (NYSE:EVEX) experienced a decline of 4.5% in its stock price on Thursday, closing at $4.66 after reaching a low of $4.68 during the day. In total, 73,303 shares were traded, significantly lower than the average trading volume of 304,412 shares. The stock had previously closed at $4.88.

Wall Street Analyst Opinions

Several research analysts have offered their insights regarding EVE stock. Canaccord Genuity Group recently raised their price target for EVE from $6.75 to $7.00 while maintaining a "buy" rating as of December 2. On the other hand, TD Cowen changed their stance on EVE to a "hold" rating on December 19. Furthermore, Cantor Fitzgerald reiterated an "overweight" rating for the stock, setting a price target of $5.00 in their assessment on November 5.

EVE Stock Analysis

The company boasts a market capitalization of $1.41 billion, with a price-to-earnings (PE) ratio of -9.86 and a beta of 0.42, which suggests it is less volatile than the market. Additionally, EVE's stock has a 50-day moving average price of $4.56 and a 200-day moving average of $3.59. Their debt-to-equity ratio stands at 0.42, while both their current and quick ratios are notably high at 5.21, indicating a strong liquidity position.

Earnings Report

EVE released its earnings results on November 4, posting an earnings per share (EPS) of -$0.12, which surpassed analysts' expectations of -$0.13. This figure reflects a slight decline from the previous year's EPS of -$0.11. Analysts predict that Eve Holding, Inc. will achieve an average EPS of -0.5 for the current fiscal year.

Institutional Investor Activity

Institutional investors are actively trading shares of EVE. For instance, Blair William & Co. IL acquired a new stake in EVE in the second quarter, valued at around $190,000. SG Americas Securities LLC also made a new purchase in the third quarter, estimated at $35,000, while Connor Clark & Lunn Investment Management Ltd. added a position valued at approximately $40,000. Additionally, Charles Schwab Investment Management Inc. significantly increased its holdings by 63.6%, owning 332,732 shares worth around $1,078,000 after buying an additional 129,300 shares last quarter. Moreover, Readystate Asset Management LP purchased shares valued at approximately $83,000 during the same period. Currently, institutional investors hold about 1.27% of the total stock.

EVE Company Overview

Eve Holding, Inc. is a special purpose acquisition company with a focus on the aviation industry. Founded on August 7, 2020, the company is based in Melbourne, Florida.

Investment Considerations

Before making any investment decisions regarding EVE, potential investors should conduct thorough research. MarketBeat tracks top-rated analysts and their stock recommendations daily, identifying five stocks currently favored by experts over EVE.

Considering the current market dynamics and analyst ratings, investors should weigh their options carefully before investing in EVE.

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