Vertical Aerospace (NYSE:EVTL) Trading 8.3% Higher – Here’s What Happened

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price traded up 8.3% during mid-day trading on Wednesday . The stock traded as high as $5.37 and last traded at $5.3610. 1,420,900 shares were traded during trading, an increase of 28% from the average session volume of 1,106,850 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EVTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Wall Street Zen cut Vertical Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vertical Aerospace has an average rating of “Moderate Buy” and an average target price of $11.60.

Vertical Aerospace Price Performance

The company has a 50-day moving average of $4.80 and a two-hundred day moving average of $5.31. The company has a market capitalization of $533.54 million, a PE ratio of -0.11 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly 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). As a group, research analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Trading of Vertical Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Vertical Aerospace by 293.4% in the third 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 last quarter. Marshall Wace LLP increased its holdings in shares of Vertical Aerospace by 81.1% in the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after buying an additional 639,404 shares during the last quarter. UBS Group AG raised 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 buying an additional 387,104 shares in the last quarter. Inherent Management Corp. bought a new position in shares of Vertical Aerospace in the 1st quarter valued at about $1,109,000. Finally, Two Sigma Investments LP grew its position in Vertical Aerospace by 56.1% in the third 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 in the last quarter. 81.17% of the stock is currently owned by institutional investors.

About Vertical Aerospace

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.