JPMorgan Chase & Co. Cuts EVE (NYSE:EVEX) Price Target to $6.00

EVE (NYSE:EVEX) had its target price decreased by JPMorgan Chase & Co. from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group initiated coverage on EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price target for the company. Canaccord Genuity Group restated a “buy” rating and set a $7.50 price objective on shares of EVE in a research note on Wednesday, March 18th. Finally, Cantor Fitzgerald decreased their target price on EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, EVE has a consensus rating of “Hold” and a consensus target price of $6.47.

EVE Trading Down 1.0%

Shares of EVEX stock opened at $2.58 on Tuesday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 1.49. EVE has a fifty-two week low of $2.34 and a fifty-two week high of $7.70. The firm’s 50 day moving average price is $3.28 and its two-hundred day moving average price is $3.94. The stock has a market cap of $896.87 million, a price-to-earnings ratio of -3.73 and a beta of 0.88.

EVE (NYSE:EVEX) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). On average, analysts anticipate that EVE will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in EVE by 144.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares during the period. Canal Insurance CO acquired a new stake in shares of EVE during the third quarter valued at about $38,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE during the third quarter valued at about $42,000. SG Americas Securities LLC purchased a new stake in shares of EVE during the fourth quarter worth about $45,000. Finally, Avidian Wealth Enterprises LLC purchased a new stake in shares of EVE during the third quarter worth about $49,000. 1.27% of the stock is owned by institutional investors and hedge funds.

EVE Company 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.