EVE (NYSE:EVEX) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen cut shares of EVE (NYSE:EVEX) from a sell rating to a strong sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

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

EVE Trading Up 0.3%

Shares of NYSE:EVEX opened at $1.75 on Friday. The company has a 50 day moving average of $2.34 and a 200-day moving average of $2.60. The firm has a market cap of $608.12 million, a P/E ratio of -2.81 and a beta of 1.19. EVE has a twelve month low of $1.73 and a twelve month high of $5.16. 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 posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. As a group, analysts anticipate that EVE will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of EVE during the 2nd quarter valued at about $17,742,000. Kapitalo Investimentos Ltda bought a new stake in shares of EVE during the 2nd quarter worth $2,761,000. HITE Hedge Asset Management LLC bought a new stake in EVE during the fourth quarter valued at about $2,471,000. SPX Gestao de Recursos Ltda acquired a new stake in EVE in the 2nd quarter valued at approximately $1,041,000. Finally, Renaissance Technologies LLC bought a new position in EVE in the 1st quarter worth approximately $854,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

EVE Company Profile

Eve Holding, Inc, doing business through its subsidiary Eve Air Mobility, develops electric vertical takeoff and landing (eVTOL) aircraft and related solutions for urban air mobility. Its aircraft are designed to support short, low-emission passenger flights, including air-taxi services, airport transfers and other point-to-point transportation applications.

In addition to its eVTOL aircraft, Eve is developing an urban air traffic management software platform intended to help coordinate and manage advanced air mobility operations.