HC Wainwright Reiterates “Buy” Rating for EVE (NYSE:EVEX)

EVE (NYSE:EVEX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 82.65% from the stock’s previous close.

Several other analysts have also weighed in on EVEX. TD Cowen upgraded EVE to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group increased their price objective on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a research note on Monday, December 2nd.

EVE Stock Performance

NYSE EVEX opened at $3.29 on Wednesday. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. EVE has a twelve month low of $2.33 and a twelve month high of $6.09. The business has a 50-day moving average price of $4.58 and a 200-day moving average price of $3.92. The firm has a market cap of $977.76 million, a price-to-earnings ratio of -6.84 and a beta of 0.45.

EVE (NYSE:EVEX) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. As a group, equities research analysts predict that EVE will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

A number of hedge funds have recently made changes to their positions in EVEX. Summit Investment Advisors Inc. lifted its stake in EVE by 257.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock worth $29,000 after purchasing an additional 3,850 shares in the last quarter. Legal & General Group Plc boosted its position in shares of EVE by 118.0% during the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock valued at $30,000 after acquiring an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in EVE during the fourth quarter worth about $34,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in EVE during the third quarter worth about $40,000. Finally, Franklin Resources Inc. acquired a new position in EVE in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

EVE Company Profile

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.