EVE (NYSE:EVEX) Sees Strong Trading Volume After Analyst Upgrade

Eve Holding, Inc. (NYSE:EVEX) shares saw strong trading volume on Monday after Canaccord Genuity Group raised their price target on the stock from $6.75 to $7.00. Canaccord Genuity Group currently has a buy rating on the stock. 148,345 shares changed hands during mid-day trading, a decline of 1% from the previous session’s volume of 149,755 shares.The stock last traded at $4.31 and had previously closed at $4.19.

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

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently bought and sold shares of EVEX. SG Americas Securities LLC acquired a new position in shares of EVE during the third quarter worth $35,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of EVE during the third quarter worth about $40,000. Franklin Resources Inc. acquired a new stake in EVE during the 3rd quarter valued at approximately $53,000. Readystate Asset Management LP purchased a new stake in EVE during the 3rd quarter worth approximately $83,000. Finally, Barclays PLC raised 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 valued at $141,000 after purchasing an additional 37,602 shares in the last quarter. Hedge funds and other institutional investors own 1.27% of the company’s stock.

EVE Stock Performance

The company has a market capitalization of $1.20 billion, a PE ratio of -8.37 and a beta of 0.53. The company has a 50 day moving average price of $3.32 and a 200 day moving average price of $3.48. 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 issued its quarterly earnings results on Monday, November 4th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities analysts forecast that Eve Holding, Inc. will post -0.5 EPS for the current year.

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.