EVE (NYSE:EVEX) Stock Price Down 3.9% – Here’s Why

Eve Holding, Inc. (NYSE:EVEX)’s share price dropped 3.9% on Wednesday . The stock traded as low as $3.88 and last traded at $3.95. Approximately 95,996 shares traded hands during trading, a decline of 35% from the average daily volume of 147,628 shares. The stock had previously closed at $4.11.

Analyst Ratings Changes

Several research firms have recently commented on EVEX. HC Wainwright began coverage on shares of EVE in a research note on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVE in a research report on Tuesday, November 5th.

EVE Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21. The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.52. The company has a market capitalization of $1.21 billion, a P/E ratio of -8.56 and a beta of 0.37.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the business posted ($0.11) earnings per share. As a group, equities analysts expect that Eve Holding, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On EVE

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in EVE by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after purchasing an additional 34,484 shares during the last quarter. Blair William & Co. IL purchased a new stake in EVE during the 2nd quarter valued at about $190,000. SG Americas Securities LLC purchased a new stake in EVE during the 3rd quarter valued at about $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE during the 3rd quarter valued at about $40,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of EVE by 63.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after acquiring an additional 129,300 shares during the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Company Profile

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.