Eve Holding, Inc. (NYSE:EVEX) Sees Significant Increase in Short Interest

Eve Holding, Inc. (NYSE:EVEX) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 6,694,832 shares, a growth of 19.2% from the March 15th total of 5,614,924 shares. Based on an average trading volume of 1,539,908 shares, the days-to-cover ratio is currently 4.3 days. Approximately 1.9% of the company’s stock are short sold.

EVE Stock Up 7.5%

EVE stock opened at $2.96 on Friday. EVE has a 12 month low of $2.34 and a 12 month high of $7.70. The stock has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $3.81. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 1.49. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -4.28 and a beta of 0.97.

EVE (NYSE:EVEX) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). Equities analysts predict that EVE will post -0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EVEX shares. JPMorgan Chase & Co. dropped their price target on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Cantor Fitzgerald reduced their price objective on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.50 target price on shares of EVE in a report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.47.

Institutional Trading of EVE

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after acquiring an additional 3,121 shares during the period. Canal Insurance CO bought a new position in EVE during the third quarter valued at approximately $38,000. SG Americas Securities LLC boosted its holdings in EVE by 52.3% in the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock worth $42,000 after purchasing an additional 5,840 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in EVE in the third quarter worth approximately $42,000. Finally, Avidian Wealth Enterprises LLC bought a new stake in EVE in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

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.