Eve Holding, Inc. (NYSE:EVEX) Short Interest Up 19.2% in March

Eve Holding, Inc. (NYSE:EVEX) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 6,694,832 shares, an increase of 19.2% from the March 15th total of 5,614,924 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 1,539,908 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

A number of analysts have commented on EVEX shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.50 price objective on shares of EVE in a report on Wednesday, March 18th. JPMorgan Chase & Co. cut their price target on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald cut their price target on shares of EVE from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.47.

EVE Trading Up 7.5%

Shares of NYSE EVEX traded up $0.21 during midday trading on Friday, reaching $2.96. 1,766,204 shares of the stock were exchanged, compared to its average volume of 1,260,615. EVE has a twelve month low of $2.34 and a twelve month high of $7.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.29 and a current ratio of 3.29. The company has a 50 day simple moving average of $2.82 and a 200 day simple moving average of $3.81. The stock has a market capitalization of $1.03 billion, a P/E ratio of -4.28 and a beta of 0.97.

EVE (NYSE:EVEX) last posted its earnings results on Monday, March 16th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). As a group, equities analysts expect that EVE will post -0.5 earnings per share for the current year.

Institutional Trading of EVE

Several institutional investors have recently added to or reduced their stakes in EVEX. Vanguard Group Inc. increased its holdings in EVE by 117.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,226,742 shares of the company’s stock valued at $19,914,000 after purchasing an additional 2,824,536 shares during the last quarter. United Airlines Holdings Inc. acquired a new stake in EVE in the 4th quarter valued at approximately $10,589,000. Cooper Creek Partners Management LLC acquired a new stake in EVE in the 3rd quarter valued at approximately $9,608,000. BW Gestao de Investimentos Ltda. acquired a new stake in EVE in the 3rd quarter valued at approximately $9,382,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in EVE by 383.1% in 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 purchasing an additional 2,256,701 shares during the last quarter. Institutional investors and hedge funds own 1.27% of the company’s stock.

EVE Company Profile

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.