Cantor Fitzgerald Reaffirms “Overweight” Rating for EVE (NYSE:EVEX)

EVE (NYSE:EVEX)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $5.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 56.99% from the company’s previous close.

Several other brokerages also recently weighed in on EVEX. TD Cowen raised shares of EVE to a “hold” rating in a report on Thursday, December 19th. Canaccord Genuity Group lifted their target price on shares of EVE from $6.75 to $7.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of EVE in a report on Wednesday.

EVE Price Performance

Shares of EVEX opened at $3.19 on Friday. The firm’s fifty day simple moving average is $4.50 and its 200-day simple moving average is $3.92. EVE has a twelve month low of $2.33 and a twelve month high of $6.09. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $948.00 million, a price-to-earnings ratio of -6.64 and a beta of 0.45.

EVE (NYSE:EVEX) last issued its quarterly earnings data on Friday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Equities analysts forecast that EVE will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On EVE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its position in EVE by 257.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company’s stock worth $29,000 after acquiring an additional 3,850 shares during the last quarter. Legal & General Group Plc raised its position in EVE by 118.0% during the fourth quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock worth $30,000 after acquiring an additional 3,001 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in EVE during the fourth quarter worth about $34,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in EVE during the third quarter worth about $40,000. Finally, Franklin Resources Inc. acquired a new position in EVE during the third quarter worth 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.