Vertical Aerospace (NYSE:EVTL) Trading 2.2% Higher – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price traded up 2.2% on Wednesday . The company traded as high as $6.39 and last traded at $6.2950. 1,261,720 shares were traded during mid-day trading, a decline of 33% from the average session volume of 1,896,837 shares. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EVTL. William Blair initiated coverage on Vertical Aerospace in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Vertical Aerospace in a research note on Thursday, September 18th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Trading Up 2.2%

The stock has a market capitalization of $628.18 million, a P/E ratio of -0.13 and a beta of 1.21. The business’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $5.38.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after buying an additional 2,066 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Vertical Aerospace by 144.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock worth $45,000 after acquiring an additional 4,850 shares during the period. Quarry LP acquired a new stake in shares of Vertical Aerospace during the 3rd quarter valued at about $49,000. Oppenheimer & Co. Inc. bought a new stake in Vertical Aerospace in the third quarter valued at about $52,000. Finally, Virtu Financial LLC acquired a new position in Vertical Aerospace in the third quarter worth about $53,000. 81.17% of the stock is owned by institutional investors.

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.