EVE (NYSE:EVEX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of EVE (NYSE:EVEX) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a report on Wednesday, August 12th. D. Boral Capital initiated coverage on EVE in a research report on Friday, August 21st. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Jefferies Financial Group set a $5.00 target price on EVE in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.93.

EVE Stock Up 0.5%

EVE stock opened at $2.23 on Friday. The firm has a market capitalization of $777.13 million, a price-to-earnings ratio of -3.60 and a beta of 1.14. The company’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $2.73. The company has a debt-to-equity ratio of 13.65, a current ratio of 3.48 and a quick ratio of 3.48. EVE has a fifty-two week low of $2.10 and a fifty-two week high of $5.16.

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

Hedge Funds Weigh In On EVE

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP bought a new position in shares of EVE during the 2nd quarter worth approximately $28,000. California State Teachers Retirement System boosted its holdings in EVE by 400.4% during the second quarter. California State Teachers Retirement System now owns 330,045 shares of the company’s stock worth $828,000 after purchasing an additional 264,088 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in EVE during the second quarter worth $354,000. SPX Gestao de Recursos Ltda bought a new position in EVE in the second quarter valued at $1,041,000. Finally, Bank of America Corp DE bought a new position in EVE in the second quarter valued at $290,000. 1.27% of the stock is 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.