Eve Holding, Inc. (NYSE:EVEX) Sees Large Drop in Short Interest

Eve Holding, Inc. (NYSE:EVEX) saw a significant decrease in short interest in January. As of January 15th, there was short interest totaling 5,213,927 shares, a decrease of 12.6% from the December 31st total of 5,962,692 shares. Based on an average trading volume of 1,045,312 shares, the short-interest ratio is presently 5.0 days. Approximately 1.5% of the company’s shares are short sold. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 1,045,312 shares, the short-interest ratio is presently 5.0 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EVEX shares. JPMorgan Chase & Co. decreased their price target on shares of EVE from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Canaccord Genuity Group upped their target price on EVE from $6.75 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVE in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.47.

EVE Trading Down 3.7%

Shares of EVEX opened at $3.80 on Tuesday. EVE has a one year low of $2.83 and a one year high of $7.70. The stock has a 50-day moving average price of $4.41 and a 200 day moving average price of $4.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.84 and a beta of 0.83.

EVE (NYSE:EVEX) last announced its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Sell-side analysts forecast that EVE will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after purchasing an additional 2,824,536 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in EVE during the third quarter valued at approximately $9,608,000. BW Gestao de Investimentos Ltda. bought a new position in EVE during the 3rd quarter worth approximately $9,382,000. Centiva Capital LP acquired a new position in shares of EVE in the 3rd quarter worth approximately $5,104,000. Finally, Masters Capital Management LLC grew its position in shares of EVE by 52.5% in the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock worth $11,620,000 after acquiring an additional 1,050,000 shares in the last quarter. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

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.