Bullish indicating open at $55-$60, IPO prices at $37
MELBOURNE, Fla. - Eve Air Mobility (NYSE:EVEX), a $1.63 billion market cap company whose stock has gained over 23% in the past six months, has announced advancements in its electric vertical take-off and landing (eVTOL) aircraft program, including design refinements and testing progress, with first flight tests expected to begin this summer.
The company revealed several design updates to its aircraft, including an optional wheeled landing gear for improved ground maneuverability, a reconfigurable cabin that can accommodate up to four passengers or convert to cargo, and an aerodynamic wing design optimized for performance and transportability. According to InvestingPro data, Eve maintains a strong liquidity position with a current ratio of 3.6x, providing financial flexibility to support its development programs.
"Our approach is to ’certify to fly, not fly to certify,’" said Luiz Valentini, chief technology officer at Eve Air Mobility. The company has completed numerous component and systems tests and is now moving into vehicle integration and ground tests.
Eve plans to utilize five to six conforming prototypes to perform thousands of development and certification flights between 2025 and 2026.
The company also highlighted its TechCare service portfolio, which now includes Vector, an air traffic management solution. TechCare offers pilot training through Embraer-CAE Training Services, maintenance through Embraer’s global service centers, and battery exchange services through BAE Systems.
"Our integrated approach with TechCare provides operators with peace of mind and simplifies the complexities of UAM operations, all with a single monthly fee," said Luiz Mauad, vice president of Customer Services.
Eve Air Mobility, which has been listed on the New York Stock Exchange since May 2022, is backed by Embraer’s more than 55 years of aerospace expertise. While the company currently trades near $5.48 per share, InvestingPro analysis reveals over 10 additional key insights about Eve’s financial health and market position. For a deeper understanding of Eve’s investment potential, access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. The announcement was made in a press release statement from the company.
In other recent news, Eve Holding Inc. has been awarded a non-repayable grant of up to $15.8 million from Brazil’s FINEP, as part of a $33.8 million investment to develop urban air mobility solutions. This funding aims to advance Eve’s autonomous flight systems and enhance its engineering capabilities, particularly through its TechCare platform. Meanwhile, H.C. Wainwright raised Eve Holding’s price target from $6.00 to $8.00 and maintained a Buy rating, citing accelerated market development for eVTOL aircraft and drones, especially in defense sectors. Jefferies also increased its price target for the company from $6.00 to $7.00, following insights from their eVTOL Summit, where Eve announced plans for unmanned flight tests in 2025 and a significant backlog of orders.
Cantor Fitzgerald reaffirmed its Overweight rating and $5.00 price target, despite potential risks such as certification delays and manufacturing challenges. Additionally, Eve Holding disclosed the results of its 2025 Annual Meeting of Stockholders, where three directors were elected, and KPMG LLP was ratified as the independent public accounting firm. The company also appointed Paul Eremenko to the Audit Committee after María Cordón’s resignation. These developments reflect Eve Holding’s ongoing efforts to strengthen its position in the urban air mobility market and expand its technological capabilities.
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