EVE (NYSE:EVEX) Shares Down 4.8% - Here's What Happened

Shares of Eve Holding, Inc. (NYSE:EVEX) fell by 4.8% in mid-day trading on Friday. The stock traded as low as $3.36 before concluding at $3.34. Around 126,254 shares exchanged hands during this trading period, marking a decrease of 43% compared to its average daily volume of 219,622 shares. In the previous trading session, the stock had closed at $3.51.

Analyst Ratings Changes

Several research firms have recently provided updates on EVE stock. TD Cowen upgraded its rating to "hold" on December 19th. Cantor Fitzgerald maintained an "overweight" rating with a price target of $5.00 for the stock as of March 14th. HC Wainwright also reiterated a "buy" rating and set a price objective of $6.00 on March 12th. Additionally, Canaccord Genuity Group raised its price target from $6.75 to $7.00, giving EVE a "buy" rating on December 2nd.

Current Stock Performance

As of now, EVE's fifty-day simple moving average stands at $4.31, while its 200-day simple moving average is at $3.93. The company’s quick ratio and current ratio both equal 5.21, reflecting strong liquidity. The debt-to-equity ratio stands at 0.42, and EVE has a market capitalization of $1.01 billion, with a PE ratio of -7.08 and a beta of 0.45.

EVE last disclosed its earnings results on March 14th, reporting an earnings per share (EPS) of ($0.14). This result exceeded analysts' estimates, which had projected an EPS of ($0.15). Analysts predict that Eve Holding, Inc. will report an EPS of -0.5 for the current fiscal year.

Institutional Trading Activity

Recent changes have been observed in institutional holdings of EVE. Connective Capital Management LLC acquired a new stake valued at approximately $500,000 during the fourth quarter. Squarepoint Ops LLC and Wexford Capital LP also entered new positions, valued at around $200,000 and $123,000, respectively. ProShare Advisors LLC invested approximately $78,000, while Nuveen Asset Management LLC significantly increased its holding by 161.4%, now owning 94,129 shares worth $512,000 after purchasing an additional 58,119 shares. Currently, institutional investors hold 1.27% of EVE's stock.

About EVE Holding, Inc.

Eve Holding, Inc. is a special purpose acquisition company focused on the aviation sector. Founded on August 7, 2020, it is headquartered in Melbourne, Florida.

Investing Considerations

Before making any investment decisions, consider this: while EVE is currently rated as a Moderate Buy by analysts, some experts believe there are better investment options available.

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