EVE (NYSE:EVEX) Shares Down 4.9% – Time to Sell?

Eve Holding, Inc. (NYSE:EVEX) was down 4.9% on Thursday . The stock traded as low as $4.42 and last traded at $4.42. Approximately 159,788 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 161,203 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

EVEX has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. HC Wainwright initiated coverage on EVE in a report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of EVE in a research note on Tuesday, November 5th.

EVE Stock Performance

The stock has a market capitalization of $1.38 billion, a P/E ratio of -9.69 and a beta of 0.53. The firm has a 50-day moving average of $3.60 and a 200 day moving average of $3.42. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX) last issued its earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same period in the prior year, the firm earned ($0.11) earnings per share. Research analysts anticipate that Eve Holding, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVEX. Charles Schwab Investment Management Inc. increased its position in shares of EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after buying an additional 129,300 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of EVE during the second quarter worth about $190,000. Readystate Asset Management LP bought a new position in shares of EVE during the 3rd quarter valued at about $83,000. SG Americas Securities LLC acquired a new position in shares of EVE in the 3rd quarter valued at approximately $35,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of EVE in the 3rd quarter valued at approximately $40,000. Institutional investors own 1.27% of the company’s stock.

About EVE

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.