EVE (NYSE:EVEX) Stock Price Down 6.1% - Time to Sell?

Eve Holding, Inc. (NYSE:EVEX - Get Free Report)'s stock price traded down 6.1% during mid-day trading on Wednesday . The stock traded as low as $3.54 and last traded at $3.48. 46,636 shares were traded during mid-day trading, a decline of 82% from the average session volume of 259,236 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EVEX shares. Canaccord Genuity Group increased their target price on EVE from $6.75 to $7.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price objective on shares of EVE in a research note on Friday. HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of EVE in a report on Wednesday. Finally, TD Cowen upgraded shares of EVE to a "hold" rating in a report on Thursday, December 19th.

EVE Price Performance

The stock has a market cap of $945.02 million, a price-to-earnings ratio of -6.61 and a beta of 0.45. 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 stock's 50 day simple moving average is $4.54 and its two-hundred day simple moving average is $3.91.

EVE (NYSE:EVEX - Get Free Report) last posted its earnings results on Friday, March 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. On average, analysts forecast that Eve Holding, Inc. will post -0.5 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On EVE

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in EVE by 118.0% during the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after acquiring an additional 3,001 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of EVE by 257.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock worth $29,000 after purchasing an additional 3,850 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in EVE in the fourth quarter valued at about $34,000. Jane Street Group LLC grew its stake in EVE by 64.8% during the fourth quarter. Jane Street Group LLC now owns 17,322 shares of the company's stock worth $94,000 after buying an additional 6,810 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of EVE by 65.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,928 shares of the company's stock worth $109,000 after buying an additional 7,919 shares in the last quarter. 1.27% of the stock is owned by institutional investors and hedge funds.

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.