Vertical Aerospace (NYSE:EVTL) Trading Down 4.6% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price was down 4.6% during trading on Tuesday . The company traded as low as $5.37 and last traded at $5.4370. Approximately 1,052,042 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 1,211,857 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EVTL shares. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Vertical Aerospace in a research report on Thursday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Price Performance

The company has a fifty day moving average price of $4.89 and a 200 day moving average price of $5.37. The stock has a market cap of $535.71 million, a P/E ratio of -0.11 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last issued its 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, sell-side analysts expect that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL raised its holdings in shares of Vertical Aerospace by 420.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after acquiring an additional 134,551 shares during the last quarter. Connective Capital Management LLC purchased a new stake in shares of Vertical Aerospace in the third quarter worth approximately $262,000. PharVision Advisers LLC bought a new position in shares of Vertical Aerospace in the third quarter valued at approximately $294,000. Verition Fund Management LLC boosted its position in shares of Vertical Aerospace by 1,190.8% during the third quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after buying an additional 180,032 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Vertical Aerospace during the third quarter valued at approximately $49,000. 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.