Vertical Aerospace (NYSE:EVTL) Trading Down 5.2% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL) was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $5.66 and last traded at $5.7360. Approximately 1,616,651 shares were traded during trading, a decline of 11% from the average daily volume of 1,812,660 shares. The stock had previously closed at $6.05.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EVTL. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 price objective on shares of Vertical Aerospace in a research report on Monday, September 22nd. William Blair assumed coverage on shares of Vertical Aerospace in a research report on Wednesday, January 7th. They issued an “outperform” rating on the stock. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Six equities research 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 company has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Price Performance

The stock has a market capitalization of $572.40 million, a price-to-earnings ratio of -0.12 and a beta of 1.21. The firm has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $5.36.

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

Institutional Trading of Vertical Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in Vertical Aerospace by 293.4% during 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 grew its position 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 valued at $7,413,000 after buying an additional 639,404 shares during the last quarter. UBS Group AG increased its stake in shares of Vertical Aerospace by 459.1% in the third 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 during the period. Verition Fund Management LLC lifted its stake 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 worth $1,013,000 after acquiring an additional 180,032 shares during the period. Finally, Tudor Investment Corp ET AL boosted its holdings 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 acquiring an additional 134,551 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

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.