EVE (NYSE:EVEX) Reaches New 12-Month Low – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX) hit a new 52-week low on Monday . The stock traded as low as $2.81 and last traded at $2.84, with a volume of 123128 shares. The stock had previously closed at $2.92.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EVEX shares. The Goldman Sachs Group began coverage on shares of EVE in a report on Monday, December 1st. They set a “neutral” rating and a $4.84 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of EVE in a research note on Monday, February 9th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.47.

EVE Stock Down 1.0%

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 5.21 and a quick ratio of 5.21. The business has a fifty day moving average price of $3.74 and a two-hundred day moving average price of $4.07.

Hedge Funds Weigh In On EVE

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of EVE by 167.8% in the first quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock worth $174,000 after acquiring an additional 32,868 shares during the period. Strs Ohio acquired a new position in EVE during the first quarter valued at $75,000. Rhumbline Advisers boosted its holdings in EVE by 25.5% in the first quarter. Rhumbline Advisers now owns 35,223 shares of the company’s stock valued at $117,000 after purchasing an additional 7,154 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in EVE by 236.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 80,000 shares of the company’s stock worth $549,000 after purchasing an additional 56,252 shares during the period. Finally, Sagil Capital LLP acquired a new stake in EVE during the 2nd quarter worth about $1,908,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

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.