Vertical Aerospace (NYSE:EVTL) Stock Price Down 5.8% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL) shares fell 5.8% on Friday . The stock traded as low as $5.71 and last traded at $5.7380. 2,083,307 shares changed hands during trading, an increase of 73% from the average session volume of 1,200,840 shares. The stock had previously closed at $6.09.

Analysts Set New Price Targets

A number of research firms recently issued reports on EVTL. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Canaccord Genuity Group restated a “buy” rating and set a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Vertical Aerospace presently has an average rating of “Moderate Buy” and an average price target of $11.40.

Vertical Aerospace Trading Down 5.8%

The business has a 50 day moving average price of $4.93 and a 200-day moving average price of $5.37. The firm has a market capitalization of $565.37 million, a PE ratio of -0.12 and a beta of 1.23.

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

Institutional Trading of Vertical Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in Vertical Aerospace by 293.4% during the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock worth $9,279,000 after buying an additional 1,333,312 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Vertical Aerospace by 81.1% during the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock valued at $7,413,000 after acquiring an additional 639,404 shares during the period. UBS Group AG lifted its position in shares of Vertical Aerospace by 459.1% during the 3rd quarter. UBS Group AG now owns 471,424 shares of the company’s stock valued at $2,447,000 after acquiring an additional 387,104 shares during the period. Inherent Management Corp. purchased a new stake in shares of Vertical Aerospace during the 1st quarter worth approximately $1,109,000. Finally, Two Sigma Investments LP grew its holdings in shares of Vertical Aerospace by 56.1% in the 3rd quarter. Two Sigma Investments LP now owns 231,967 shares of the company’s stock worth $1,204,000 after acquiring an additional 83,404 shares during the period. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.