EVE (NYSE:EVEX) Stock Price Down 7.7% – Should You Sell?

Shares of Eve Holding, Inc. (NYSE:EVEX) dropped 7.7% during trading on Wednesday . The stock traded as low as $3.12 and last traded at $3.12. Approximately 97,970 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,218,817 shares. The stock had previously closed at $3.38.

Analysts Set New Price Targets

EVEX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Friday, April 24th. Canaccord Genuity Group reduced their price target on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Cantor Fitzgerald reduced their price target 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. Finally, JPMorgan Chase & Co. cut their target price on shares of EVE from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Four 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. Based on data from MarketBeat, EVE has a consensus rating of “Hold” and an average target price of $6.42.

EVE Stock Up 0.2%

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 firm has a market cap of $1.10 billion, a PE ratio of -4.31 and a beta of 1.09. The business’s 50-day simple moving average is $2.91 and its 200 day simple moving average is $3.49.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of EVE in the 1st quarter valued at about $30,000. Themes Management Co LLC bought a new stake in shares of EVE in the 1st quarter valued at about $30,000. Deltec Asset Management LLC bought a new stake in shares of EVE in the 1st quarter valued at about $33,000. BNP Paribas Financial Markets boosted its holdings in shares of EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after buying an additional 3,121 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of EVE by 52.3% in the 1st 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 in the last quarter. Hedge funds and other 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.