EVE (NYSE:EVEX) Hits New 52-Week Low – Here’s Why

Eve Holding, Inc. (NYSE:EVEX) shares hit a new 52-week low on Tuesday. The stock traded as low as $1.55 and last traded at $1.5650, with a volume of 902,413 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

EVEX has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of EVE from $6.00 to $6.50 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Jefferies Financial Group set a $5.00 price objective on EVE in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of EVE from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. D. Boral Capital initiated coverage on EVE in a research note on Friday, August 21st. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

EVE Trading Up 17.1%

The firm has a market capitalization of $583.72 million, a price-to-earnings ratio of -2.72 and a beta of 1.19. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 13.65. The firm’s 50 day moving average is $2.20 and its 200 day moving average is $2.55.

EVE (NYSE:EVEX) last issued its quarterly 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. Equities analysts forecast that Eve Holding, Inc. will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in EVE in the 2nd quarter valued at $25,000. Corient Private Wealth LP bought a new stake in shares of EVE in the 2nd quarter valued at $28,000. Themes Management Co LLC bought a new stake in shares of EVE during the first quarter valued at approximately $30,000. Pallas Capital Advisors LLC acquired a new position in shares of EVE during the second quarter valued at about $30,000. Finally, R Squared Ltd bought a new stake in EVE during the first quarter worth $30,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

About EVE

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.