Vertical Aerospace (NYSE:EVTL) Stock Price Down 4.4% – Here’s What Happened

Vertical Aerospace Ltd. (NYSE:EVTL) shares fell 4.4% on Thursday . The company traded as low as $6.02 and last traded at $6.0340. 1,359,410 shares traded hands during trading, a decline of 27% from the average session volume of 1,866,137 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

EVTL has been the topic of several analyst reports. William Blair assumed coverage on Vertical Aerospace in a research report on Wednesday, January 7th. They issued an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Vertical Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Price Performance

The company has a fifty day moving average price of $5.29 and a two-hundred day moving average price of $5.38. The firm has a market cap of $602.11 million, a price-to-earnings ratio of -0.12 and a beta of 1.21.

Vertical Aerospace (NYSE:EVTL) last released its earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). On average, research analysts expect that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Trading of Vertical Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL boosted its holdings in Vertical Aerospace by 420.7% during the third quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after buying an additional 134,551 shares in the last quarter. Connective Capital Management LLC bought a new position in shares of Vertical Aerospace in the third quarter valued at $262,000. PharVision Advisers LLC acquired a new stake in shares of Vertical Aerospace during the 3rd quarter valued at $294,000. Verition Fund Management LLC lifted its position in shares of Vertical Aerospace by 1,190.8% during the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after acquiring an additional 180,032 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Vertical Aerospace during the 3rd quarter worth $49,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom–based aerospace manufacturer specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company is publicly listed on the New York Stock Exchange under the ticker EVTL. Vertical Aerospace’s mission is to deliver zero-emission, high-speed electric aircraft designed to transform short-haul journeys in densely populated areas.

The company’s flagship model, the VA-X4, is a piloted, five-seat eVTOL craft engineered for quiet operation, low running costs and minimal environmental impact.