Eve Holding, Inc. (NYSE:EVEX) Experiences 12.5% Drop in Short Interest

Eve Holding, Inc. (NYSE:EVEX) has recently reported a notable decline in short interest for the month of October. As of October 15th, the total short interest was recorded at 3,710,000 shares, reflecting a substantial decrease of 12.5% from the 4,240,000 shares reported on September 30th. This indicates that roughly 7.5% of the total shares of the company are currently sold short. The average daily trading volume is around 275,000 shares, resulting in a days-to-cover ratio of 13.5 days.

EVE Stock Performance

On Tuesday, EVE's stock saw a decline of 2.7%, dropping $0.09 to trade at $3.30. During the mid-day session, 271,583 shares of EVE were traded, outpacing the average trading volume of 132,191 shares. The company has registered a fifty-day moving average of $3.04 and a 200-day moving average of $3.84. In terms of financial metrics, EVE has a debt-to-equity ratio of 0.50, alongside a quick ratio and a current ratio both standing at 3.87. The market capitalization of Eve Holding is approximately $957.46 million, with a P/E ratio of -7.02 and a beta of 0.36. Over the past year, EVE's stock has reached a low of $2.33 and a high of $8.00.

Eve Holding released its latest quarterly earnings figures on August 6th, reporting an earnings per share (EPS) of ($0.13), which met the expectations set by analysts. Forecasts suggest that the company will report an EPS of -0.49 for the current fiscal year.

Analyst Ratings and Price Targets

Recent reports from various research analysts have focused on EVE. HC Wainwright initiated coverage on EVE on September 3rd, giving it a "buy" recommendation with a price target of $6.00. Meanwhile, Canaccord Genuity Group revised their price target down from $9.00 to $8.50, maintaining a "buy" rating in their report published on July 2nd. Similarly, Cantor Fitzgerald reiterated an "overweight" rating and set a price target of $5.00 in their report released on September 30th.

Institutional Investor Activity

There have been notable changes in institutional trader positions regarding EVE. SG Americas Securities LLC made a new investment in the company's shares valued at $35,000 during the third quarter. Additionally, Blair William & Co. IL also acquired new shares worth $190,000 in the second quarter. The Vanguard Group increased their holdings in EVE by 7.1% in the first quarter, now owning a total of 517,707 shares valued at approximately $2,796,000 after buying an additional 34,484 shares. Overall, institutional investors hold around 1.27% of Eve Holding's stock.

Company Overview

Eve Holding, Inc., along with its subsidiaries, focuses on developing solutions for urban air mobility. The company is involved in the design and manufacturing of electric vertical take-off and landing vehicles (eVTOLs), providing eVTOL services, support capabilities including material services, maintenance, technical support, training, ground handling, and data services. Eve also works on developing urban air traffic management systems.

Conclusion

The accumulated data on short interest, stock performance, and institutional investment activity highlights the current state of Eve Holding in the market. Investors and analysts continue to monitor these developments closely.

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