EVE (NYSE:EVEX) Stock Price Up 6.7% – Here’s What Happened

Shares of Eve Holding, Inc. (NYSE:EVEX) shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $5.49 and last traded at $5.43. 114,028 shares were traded during trading, a decline of 35% from the average session volume of 174,874 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EVEX shares. TD Cowen raised EVE to a “hold” rating in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 target price on shares of EVE in a research report on Tuesday, November 5th. HC Wainwright started coverage on shares of EVE in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

EVE Trading Up 5.7 %

The firm’s 50 day moving average price is $3.70 and its 200 day moving average price is $3.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a market capitalization of $1.60 billion, a P/E ratio of -11.21 and a beta of 0.53.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. During the same quarter in the prior year, the business earned ($0.11) earnings per share. As a group, equities research analysts expect that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in EVE by 63.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock worth $1,078,000 after purchasing an additional 129,300 shares in the last quarter. Blair William & Co. IL purchased a new position in EVE in the 2nd quarter worth $190,000. Readystate Asset Management LP acquired a new stake in EVE during the 3rd quarter worth about $83,000. SG Americas Securities LLC purchased a new stake in EVE during the 3rd quarter valued at about $35,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of EVE in the third quarter valued at about $40,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Company Profile

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.