Eve Holding, Inc. (NYSE:EVEX) Short Interest Up 42.3% in December

Eve Holding, Inc. (NYSE:EVEX) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 5,962,692 shares, an increase of 42.3% from the December 15th total of 4,189,819 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily volume of 1,988,432 shares, the days-to-cover ratio is presently 3.0 days. Based on an average daily volume of 1,988,432 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.7% of the shares of the company are short sold.

EVE Stock Performance

Shares of EVEX stock opened at $4.53 on Monday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -6.96 and a beta of 0.83. EVE has a 1-year low of $2.83 and a 1-year high of $7.70. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $4.79.

EVE (NYSE:EVEX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. On average, sell-side analysts predict that EVE will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVE

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of EVE by 144.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after purchasing an additional 3,121 shares during the last quarter. Canal Insurance CO acquired a new position in EVE during the third quarter worth $38,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of EVE in the second quarter worth about $69,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of EVE in the third quarter worth about $42,000. Finally, SG Americas Securities LLC bought a new stake in shares of EVE during the 4th quarter worth about $45,000. 1.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVEX has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on EVE from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group began coverage on shares of EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on shares of EVE from $6.75 to $7.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVE in a report on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, EVE presently has a consensus rating of “Hold” and an average price target of $6.47.

About EVE

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.