Canaccord Genuity Group Forecasts Strong Price Appreciation for EVE (NYSE:EVEX) Stock

EVE (NYSE:EVEX) had its price objective lifted by stock analysts at Canaccord Genuity Group from $6.75 to $7.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 74.13% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. HC Wainwright started coverage on shares of EVE in a report on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of EVE in a report on Tuesday, November 5th.

EVE Stock Performance

EVEX opened at $4.02 on Monday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.37 and a beta of 0.53. The company has a fifty day moving average of $3.32 and a 200 day moving average of $3.48. EVE has a fifty-two week low of $2.33 and a fifty-two week high of $7.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21.

EVE (NYSE:EVEX) last posted its earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts forecast that EVE will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

Several large investors have recently added to or reduced their stakes in EVEX. SG Americas Securities LLC purchased a new stake in shares of EVE in the 3rd quarter worth approximately $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE in the 3rd quarter worth approximately $40,000. Franklin Resources Inc. purchased a new stake in shares of EVE in the 3rd quarter worth approximately $53,000. Readystate Asset Management LP purchased a new stake in shares of EVE in the 3rd quarter worth approximately $83,000. Finally, Barclays PLC lifted its position in shares of EVE by 594.1% in the 3rd quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after purchasing an additional 37,602 shares during the period. 1.27% of the stock is owned by hedge funds and other institutional investors.

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.