EVE (NYSE:EVEX) Shares Gap Down Following Weak Earnings

Shares of Eve Holding, Inc. (NYSE:EVEX) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $2.79, but opened at $2.68. EVE shares last traded at $2.7750, with a volume of 179,192 shares traded.

The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.04).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EVEX. Cantor Fitzgerald reiterated an “overweight” rating on shares of EVE in a research note on Monday, February 9th. The Goldman Sachs Group began coverage on shares of EVE in a research report on Monday, December 1st. They set a “neutral” rating and a $4.84 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, EVE has an average rating of “Hold” and a consensus price target of $6.47.

Institutional Trading of EVE

Several large investors have recently made changes to their positions in EVEX. BNP Paribas Financial Markets raised its stake in EVE by 144.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after purchasing an additional 3,121 shares during the last quarter. Canal Insurance CO acquired a new stake in EVE during the 3rd quarter worth $38,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of EVE during the third quarter worth $42,000. SG Americas Securities LLC purchased a new stake in shares of EVE during the fourth quarter worth $45,000. Finally, Avidian Wealth Enterprises LLC acquired a new stake in shares of EVE in the third quarter valued at about $49,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Price Performance

The stock’s 50-day moving average price is $3.56 and its 200 day moving average price is $4.02. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $896.87 million, a price-to-earnings ratio of -3.73 and a beta of 0.88.

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.