EVE (NYSE:EVEX) Trading Down 7.2% – Should You Sell?

Eve Holding, Inc. (NYSE:EVEX)’s stock price dropped 7.2% on Tuesday . The company traded as low as $4.39 and last traded at $4.39. Approximately 46,815 shares were traded during trading, a decline of 82% from the average daily volume of 261,340 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of EVE in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, TD Cowen raised EVE to a “hold” rating in a report on Thursday, December 19th.

EVE Stock Down 5.8 %

The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.33 billion, a PE ratio of -9.32 and a beta of 0.41. The firm’s fifty day moving average is $4.87 and its 200-day moving average is $3.71.

Hedge Funds Weigh In On EVE

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of EVE in the 3rd quarter worth $35,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of EVE in the 3rd quarter valued at about $40,000. Rhumbline Advisers grew its holdings in shares of EVE by 80.7% during the 4th quarter. Rhumbline Advisers now owns 28,069 shares of the company’s stock worth $153,000 after purchasing an additional 12,539 shares during the period. State Street Corp increased its position in EVE by 3.8% during the 3rd quarter. State Street Corp now owns 378,123 shares of the company’s stock worth $1,225,000 after purchasing an additional 13,700 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in EVE in the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors own 1.27% of the company’s stock.

About EVE

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.