EVE (NYSE:EVEX) Price Target Raised to $6.50 at JPMorgan Chase & Co.

EVE (NYSE:EVEX) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $6.00 to $6.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 133.39% from the company’s current price.

Other analysts have also recently issued reports about the company. Wall Street Zen raised EVE from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Jefferies Financial Group set a $5.00 price target on EVE in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group dropped their target price on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.92.

EVE Stock Performance

Shares of EVEX traded down $0.07 during mid-day trading on Wednesday, reaching $2.79. The company’s stock had a trading volume of 86,044 shares, compared to its average volume of 1,186,241. EVE has a 1-year low of $2.10 and a 1-year high of $6.04. The stock has a market cap of $970.03 million, a P/E ratio of -4.49 and a beta of 1.14. The business has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $2.88. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 13.65.

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

Institutional Investors Weigh In On EVE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in EVE during the second quarter worth about $69,000. Schonfeld Strategic Advisors LLC bought a new position in EVE in the 3rd quarter worth about $42,000. SG Americas Securities LLC purchased a new stake in shares of EVE in the 4th quarter valued at about $45,000. Finally, Themes Management Co LLC bought a new stake in shares of EVE during the 1st quarter valued at about $30,000. 1.27% of the stock is currently owned by institutional investors.

EVE Company Profile

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.