EVE (NYSE:EVEX) Receives “Buy” Rating from Canaccord Genuity Group

EVE (NYSE:EVEX)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $7.50 target price on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 191.26% from the stock’s previous close.

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

EVE Stock Performance

EVEX stock opened at $2.58 on Wednesday. The firm has a market cap of $896.89 million, a PE ratio of -3.73 and a beta of 0.88. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $3.56 and a 200-day moving average price of $4.02. EVE has a 1-year low of $2.56 and a 1-year high of $7.70.

EVE (NYSE:EVEX) last announced its earnings results on Monday, March 16th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04). As a group, equities research analysts expect that EVE will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after buying an additional 2,824,536 shares in the last quarter. United Airlines Holdings Inc. bought a new position in EVE in the fourth quarter worth approximately $10,589,000. Cooper Creek Partners Management LLC bought a new position in EVE in the third quarter worth approximately $9,608,000. BW Gestao de Investimentos Ltda. acquired a new stake in EVE in the third quarter valued at approximately $9,382,000. Finally, SPX Gestao de Recursos Ltda grew its stake in EVE by 383.1% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after acquiring an additional 2,256,701 shares during the period. 1.27% of the stock is currently owned by institutional investors and hedge funds.

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.