Last Updated: 18 Sep 2024
Executive Summary
Eve Holding Inc. (EVEX) is a pre-revenue company focused on developing urban air mobility solutions. The company has a market capitalization of $857.59 million and is currently trading at $2.89 per share. Analysts have a consensus target price of $6.20, with a rating of 1 Strong Buy, 4 Buy, 3 Hold, 0 Sell, and 0 Strong Sell.
Company Overview
Eve Holding Inc. is headquartered in Melbourne, Florida, and was founded in 2020. The company is dedicated to developing and manufacturing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Eve plans to launch its first commercial aircraft in 2026.
Fundamental Analysis
Eve Holding Inc. is a pre-revenue company and therefore does not have any financial metrics to analyze. However, the company has a strong management team with experience in the aerospace industry. Eve has also partnered with several major companies, including Embraer, Rolls-Royce, and Air Canada.
Technical Analysis
Eve Holding Inc. has been in a downtrend since reaching a high of $8.94 in November 2021. The stock is currently trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is also in oversold territory, indicating that the stock may be due for a bounce.
Short Term Outlook
In the short term, Eve Holding Inc. is likely to continue to trade in a range between $2.50 and $3.50. The stock could see a bounce if it can break above its 50-day moving average. However, the stock could also see further downside if it breaks below its 200-day moving average.
Long Term Outlook
In the long term, Eve Holding Inc. has the potential to be a major player in the urban air mobility market. The company has a strong management team, a solid partner network, and a clear path to commercialization. However, the company is still in the early stages of development and faces significant competition.
Analyst Recommendations
Analysts have a consensus target price of $6.20 for Eve Holding Inc. This target price implies a potential upside of 114.5% from the current price. Analysts are bullish on the company's long-term prospects but are cautious about the near-term challenges.
