Vertical Aerospace (NYSE:EVTL) Stock Price Down 6.1% – Time to Sell?

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price was down 6.1% during trading on Tuesday . The company traded as low as $6.16 and last traded at $6.2750. Approximately 572,662 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,841,908 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EVTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. William Blair started coverage on shares of Vertical Aerospace in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. D. Boral Capital reissued a “buy” rating and issued a $14.00 price target on shares of Vertical Aerospace in a report on Wednesday, December 3rd. Finally, Cantor Fitzgerald restated 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 given a Sell rating to the company. Based on data from MarketBeat, Vertical Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Stock Down 6.7%

The firm has a market capitalization of $621.89 million, a price-to-earnings ratio of -0.13 and a beta of 1.21. The company has a 50-day moving average price of $5.21 and a 200-day moving average price of $5.38.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Institutional Inflows and Outflows

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

About Vertical Aerospace

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.