Vertical Aerospace (NYSE:EVTL) Trading 5.1% Higher – Here’s Why

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) were up 5.1% during trading on Friday . The company traded as high as $5.58 and last traded at $5.54. Approximately 1,323,050 shares traded hands during trading, an increase of 9% from the average daily volume of 1,210,488 shares. The stock had previously closed at $5.27.

Analysts Set New Price Targets

A number of research analysts have recently commented on EVTL shares. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Vertical Aerospace in a report on Thursday, September 18th. Canaccord Genuity Group restated a “buy” rating and set a $11.00 target price on shares of Vertical Aerospace in a report on Monday, September 22nd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday. Finally, D. Boral Capital reissued a “buy” rating and set a $14.00 target price on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Vertical Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Stock Performance

The stock has a 50-day simple moving average of $4.88 and a two-hundred day simple moving average of $5.36. The firm has a market cap of $545.85 million, a PE ratio of -0.11 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last announced its earnings results 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). As a group, sell-side analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Vertical Aerospace by 293.4% in the 3rd quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock worth $9,279,000 after purchasing an additional 1,333,312 shares during the period. Marshall Wace LLP raised its position in Vertical Aerospace by 81.1% in the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after acquiring an additional 639,404 shares during the period. UBS Group AG grew 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 in the 1st quarter worth $1,109,000. Finally, Two Sigma Investments LP raised its holdings in 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 purchasing an additional 83,404 shares during the period. 81.17% of the stock is currently owned by institutional investors.

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.