Vertical Aerospace (NYSE:EVTL) Stock Price Down 4.4% – Should You Sell?

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) were down 4.4% on Thursday . The stock traded as low as $6.02 and last traded at $6.0340. Approximately 1,359,410 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 1,866,137 shares. The stock had previously closed at $6.31.

Wall Street Analysts Forecast Growth

EVTL has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a report on Wednesday, December 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. Finally, William Blair started coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They set an “outperform” rating on the stock. Six 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Stock Performance

The company’s fifty day moving average price is $5.29 and its 200 day moving average price is $5.38. The firm has a market capitalization of $602.11 million, a price-to-earnings ratio of -0.12 and a beta of 1.21.

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 year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its stake in Vertical Aerospace by 120.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after buying an additional 2,066 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Vertical Aerospace by 144.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after purchasing an additional 4,850 shares during the last quarter. Quarry LP bought a new stake in Vertical Aerospace in the 3rd quarter valued at about $49,000. Oppenheimer & Co. Inc. acquired a new position in Vertical Aerospace during the 3rd quarter valued at about $52,000. Finally, Virtu Financial LLC bought a new position in Vertical Aerospace in the 3rd quarter worth about $53,000. 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.