EVE (NYSE:EVEX) Shares Gap Down – Here’s What Happened

Eve Holding, Inc. (NYSE:EVEX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $5.48, but opened at $5.24. EVE shares last traded at $5.15, with a volume of 40,704 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EVEX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of EVE in a research report on Tuesday, November 5th. TD Cowen raised EVE to a “hold” rating in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group upped their target price on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd.

EVE Stock Performance

The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $3.53. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -10.08 and a beta of 0.42.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVEX. Blair William & Co. IL acquired a new position in shares of EVE during the 2nd quarter valued at about $190,000. SG Americas Securities LLC bought a new stake in EVE during the 3rd quarter valued at approximately $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in EVE during the 3rd quarter valued at approximately $40,000. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 129,300 shares during the period. Finally, Readystate Asset Management LP bought a new stake in EVE during the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds 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.