EVE (NYSE:EVEX) Shares Up 6.7% - Time to Buy?

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price shot up 6.7% during trading on Tuesday . The stock traded as high as $5.49 and last traded at $5.43. Approximately 114,028 shares were traded during trading, a decline of 35% from the average daily volume of 174,874 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

EVEX has been the topic of several research reports. TD Cowen raised EVE to a "hold" rating in a research report on Thursday, December 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on shares of EVE from $6.75 to $7.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Finally, HC Wainwright assumed coverage on shares of EVE in a report on Tuesday, September 3rd. They set a "buy" rating and a $6.00 target price for the company.

EVE Stock Performance

The firm's fifty day moving average price is $3.70 and its two-hundred day moving average price is $3.42. The stock has a market capitalization of $1.60 billion, a PE ratio of -11.21 and a beta of 0.53. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42.

EVE (NYSE:EVEX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. During the same quarter last year, the company posted ($0.11) earnings per share. As a group, equities research analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL purchased a new position in EVE in the 2nd quarter valued at about $190,000. SG Americas Securities LLC acquired a new stake in shares of EVE in the third quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE during the third quarter worth approximately $40,000. Charles Schwab Investment Management Inc. raised its stake in EVE by 63.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company's stock valued at $1,078,000 after purchasing an additional 129,300 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in EVE during the 3rd quarter worth $83,000. Hedge funds and other institutional investors own 1.27% of the company's stock.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.