Vertical Aerospace (NYSE:EVTL) Trading Down 5.1% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price traded down 5.1% during trading on Wednesday . The stock traded as low as $5.03 and last traded at $5.0750. 1,930,272 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 1,730,096 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EVTL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. Finally, William Blair started coverage on shares of Vertical Aerospace in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. 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.com, Vertical Aerospace presently has an average rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Price Performance

The firm has a market cap of $472.01 million, a PE ratio of -0.10 and a beta of 1.21. The business’s fifty day moving average is $5.62 and its 200-day moving average is $5.34.

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 analysts’ consensus estimates of ($0.23) by ($0.09). Analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Trading of Vertical Aerospace

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in 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 acquiring an additional 1,333,312 shares during the last quarter. Marshall Wace LLP boosted its position in Vertical Aerospace by 81.1% during the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after purchasing an additional 639,404 shares during the period. UBS Group AG boosted its position in Vertical Aerospace by 459.1% during the third quarter. UBS Group AG now owns 471,424 shares of the company’s stock worth $2,447,000 after purchasing an additional 387,104 shares during the period. Two Sigma Investments LP increased its stake in shares of 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 purchasing an additional 83,404 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in shares of Vertical Aerospace by 1,190.8% in the third quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after purchasing an additional 180,032 shares during the period. 81.17% of the stock is currently 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.