EVE (NYSE:EVEX) Sets New 52-Week Low – What’s Next?

Eve Holding, Inc. (NYSE:EVEX)’s stock price hit a new 52-week low during trading on Wednesday. The company traded as low as $1.94 and last traded at $1.9550, with a volume of 1018245 shares trading hands. The stock had previously closed at $2.00.

Analyst Ratings Changes

EVEX has been the topic of a number of research reports. D. Boral Capital started coverage on EVE in a report on Friday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. Jefferies Financial Group set a $5.00 price objective on EVE in a research report on Wednesday, August 5th. Wall Street Zen upgraded EVE from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. boosted their target price on EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, EVE presently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

EVE Stock Performance

The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. The stock’s 50-day moving average is $2.35 and its 200 day moving average is $2.61. The stock has a market cap of $625.54 million, a price-to-earnings ratio of -2.90 and a beta of 1.19.

EVE (NYSE:EVEX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. As a group, analysts predict that Eve Holding, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new stake in EVE during the second quarter worth about $25,000. Corient Private Wealth LP acquired a new stake in shares of EVE during the 2nd quarter valued at approximately $28,000. Themes Management Co LLC acquired a new stake in shares of EVE during the 1st quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in shares of EVE during the 1st quarter worth approximately $30,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of EVE during the 2nd quarter worth approximately $30,000. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

Eve Air Mobility, Inc develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for the emerging urban air mobility market. The company is focused on enabling short-distance passenger and cargo transportation with electrically powered aircraft designed to operate from urban and regional vertiports.

In addition to its eVTOL aircraft, Eve is developing an ecosystem of services and technologies to support commercial operations. These include flight operations and fleet-management tools, maintenance and support services, and its Vector software platform, which is designed to help manage urban air mobility networks.