Eve Holding, Inc. (NYSE:EVEX) Sees Large Growth in Short Interest

Eve Holding, Inc. (NYSE:EVEX) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 5,820,000 shares, an increase of 7.8% from the January 15th total of 5,400,000 shares. Based on an average daily volume of 353,800 shares, the days-to-cover ratio is presently 16.4 days. Currently, 11.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

EVEX has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on shares of EVE from $6.75 to $7.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVE in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded shares of EVE to a “hold” rating in a research report on Thursday, December 19th.

EVE Price Performance

EVEX traded down $0.09 on Tuesday, reaching $4.72. The company had a trading volume of 254,285 shares, compared to its average volume of 255,683. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.21 and a current ratio of 5.21. EVE has a 52-week low of $2.33 and a 52-week high of $6.09. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -9.82 and a beta of 0.41. The business has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $3.75.

Institutional Trading of EVE

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in EVE by 65.4% in the third quarter. Geode Capital Management LLC now owns 850,022 shares of the company’s stock valued at $2,754,000 after acquiring an additional 336,133 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of EVE by 63.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,732 shares of the company’s stock valued at $1,078,000 after purchasing an additional 129,300 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of EVE during the 3rd quarter valued at about $53,000. JPMorgan Chase & Co. lifted its position in EVE by 296.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,830 shares of the company’s stock worth $126,000 after buying an additional 29,029 shares during the last quarter. Finally, Barclays PLC boosted its stake in EVE by 594.1% in the third quarter. Barclays PLC now owns 43,931 shares of the company’s stock worth $141,000 after buying an additional 37,602 shares in the last quarter. 1.27% of the stock is owned by institutional investors.

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.