EVE (NYSE:EVEX) Stock Price Down 6.4% – Time to Sell?

Eve Holding, Inc. (NYSE:EVEX) was down 6.4% during trading on Monday . The stock traded as low as $2.33 and last traded at $2.2650. 55,104 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,199,901 shares. The stock had previously closed at $2.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price target on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald lowered their target price on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, EVE currently has an average rating of “Hold” and a consensus price target of $6.02.

EVE Stock Up 4.6%

The stock’s fifty day moving average price is $2.86 and its 200 day moving average price is $3.15. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 5.45. The stock has a market cap of $830.70 million, a P/E ratio of -3.27 and a beta of 1.13.

EVE (NYSE:EVEX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). As a group, research analysts forecast that Eve Holding, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Several hedge funds have recently added to or reduced their stakes in the company. Amundi raised its position in EVE by 10.7% in the 3rd quarter. Amundi now owns 30,426 shares of the company’s stock worth $116,000 after purchasing an additional 2,941 shares during the period. BNP Paribas Financial Markets lifted its stake in 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 purchasing an additional 3,121 shares during the last quarter. Bank of America Corp DE boosted its position in EVE by 13.1% during the third quarter. Bank of America Corp DE now owns 43,324 shares of the company’s stock valued at $165,000 after buying an additional 5,025 shares during the period. SG Americas Securities LLC boosted its position in EVE by 52.3% during the first quarter. SG Americas Securities LLC now owns 17,001 shares of the company’s stock valued at $42,000 after buying an additional 5,840 shares during the period. Finally, Invesco Ltd. grew its stake in shares of EVE by 47.0% during the fourth quarter. Invesco Ltd. now owns 20,038 shares of the company’s stock valued at $80,000 after buying an additional 6,403 shares during the last quarter. Institutional investors own 1.27% of the company’s stock.

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.