EVE (NYSE:EVEX) Shares Gap Up – Should You Buy?

Eve Holding, Inc. (NYSE:EVEX) shares gapped up before the market opened on Friday . The stock had previously closed at $2.78, but opened at $2.90. EVE shares last traded at $2.8210, with a volume of 238,147 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVEX. The Goldman Sachs Group initiated coverage on EVE in a report on Monday, December 1st. They issued a “neutral” rating and a $4.84 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EVE in a report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.47.

EVE Trading Down 0.9%

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 company has a fifty day moving average price of $3.63 and a two-hundred day moving average price of $4.03. The firm has a market capitalization of $959.57 million, a price-to-earnings ratio of -4.24 and a beta of 0.88.

Hedge Funds Weigh In On EVE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVEX. Vanguard Group Inc. increased its stake in shares of EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock worth $19,914,000 after acquiring an additional 2,824,536 shares during the last quarter. BW Gestao de Investimentos Ltda. raised its holdings in shares of EVE by 49.7% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,686,140 shares of the company’s stock worth $14,708,000 after acquiring an additional 1,223,719 shares during the period. Masters Capital Management LLC boosted its position in shares of EVE by 52.5% during the 3rd quarter. Masters Capital Management LLC now owns 3,050,000 shares of the company’s stock valued at $11,620,000 after acquiring an additional 1,050,000 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its position in shares of EVE by 383.1% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 2,845,692 shares of the company’s stock valued at $11,354,000 after acquiring an additional 2,256,701 shares during the last quarter. Finally, United Airlines Holdings Inc. purchased a new stake in shares of EVE in the fourth quarter valued at about $10,589,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

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.