Traders Buy High Volume of Vertical Aerospace Call Options (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) was the target of some unusual options trading activity on Wednesday. Investors acquired 21,607 call options on the stock. This represents an increase of 1,910% compared to the average volume of 1,075 call options.

Institutional Trading of Vertical Aerospace

Several hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its stake in Vertical Aerospace by 420.7% in the third quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock valued at $864,000 after buying an additional 134,551 shares in the last quarter. Connective Capital Management LLC acquired a new stake in shares of Vertical Aerospace during the third quarter worth $262,000. PharVision Advisers LLC bought a new stake in Vertical Aerospace in the 3rd quarter valued at $294,000. Verition Fund Management LLC boosted its stake in Vertical Aerospace by 1,190.8% in the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock worth $1,013,000 after purchasing an additional 180,032 shares during the period. Finally, Quarry LP acquired a new position in Vertical Aerospace in the 3rd quarter worth $49,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Vertical Aerospace Stock Up 5.3%

Shares of EVTL traded up $0.33 during trading hours on Wednesday, reaching $6.47. The stock had a trading volume of 1,175,118 shares, compared to its average volume of 1,673,499. The company has a market cap of $645.14 million, a P/E ratio of -0.13 and a beta of 1.21. Vertical Aerospace has a 52 week low of $2.76 and a 52 week high of $10.65. The firm has a 50-day moving average of $5.04 and a 200 day moving average of $5.35.

Vertical Aerospace (NYSE:EVTL) last posted 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). As a group, equities analysts expect that Vertical Aerospace will post -3.95 earnings per share for the current year.

Wall Street Analyst Weigh In

EVTL has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 target price on shares of Vertical Aerospace in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. William Blair assumed coverage on Vertical Aerospace in a report on Wednesday. They set an “outperform” rating on the stock. Finally, D. Boral Capital restated a “buy” rating and set a $14.00 target price on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

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.