EVE (NYSE:EVEX) Shares Up 5.2% – Still a Buy?

Eve Holding, Inc. (NYSE:EVEX) shares shot up 5.2% during mid-day trading on Wednesday . The stock traded as high as $3.18 and last traded at $3.26. 11,559 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 261,854 shares. The stock had previously closed at $3.10.

Analysts Set New Price Targets

A number of brokerages have recently commented on EVEX. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of EVE in a research report on Wednesday, March 12th. Canaccord Genuity Group boosted their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. TD Cowen upgraded shares of EVE to a “hold” rating in a report on Thursday, December 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of EVE in a research note on Friday, March 14th.

EVE Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 5.21. The company’s 50 day simple moving average is $4.31 and its 200 day simple moving average is $3.93. The company has a market capitalization of $1.05 billion, a PE ratio of -7.32 and a beta of 0.45.

EVE (NYSE:EVEX) last posted its earnings results on Friday, March 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. As a group, sell-side analysts predict that Eve Holding, Inc. will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its position in shares of EVE by 257.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock worth $29,000 after acquiring an additional 3,850 shares during the last quarter. Legal & General Group Plc grew its position in EVE by 118.0% during the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock worth $30,000 after purchasing an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in EVE in the fourth quarter valued at $34,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE in the third quarter valued at about $40,000. Finally, Franklin Resources Inc. purchased a new position in shares of EVE during the third quarter worth about $53,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

EVE Company Profile

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.