Vertical Aerospace (NYSE:EVTL) Stock Price Down 2.5% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price dropped 2.5% during trading on Friday . The company traded as low as $5.57 and last traded at $5.6050. Approximately 1,076,824 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 1,690,431 shares. The stock had previously closed at $5.75.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. Finally, William Blair began coverage on Vertical Aerospace in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Vertical Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Price Performance

The business has a 50 day simple moving average of $5.51 and a 200 day simple moving average of $5.34. The stock has a market cap of $559.31 million, a PE ratio of -0.11 and a beta of 1.21.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, 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 large investors have recently added to or reduced their stakes in EVTL. Goldman Sachs Group Inc. acquired a new stake in shares of Vertical Aerospace in the 1st quarter valued at $102,000. Squarepoint Ops LLC raised its holdings in Vertical Aerospace by 429.6% during the second quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock valued at $948,000 after buying an additional 113,580 shares in the last quarter. Rathbones Group PLC bought a new position in Vertical Aerospace during the second quarter valued at about $356,000. CreativeOne Wealth LLC acquired a new stake in shares of Vertical Aerospace in the second quarter worth about $91,000. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Vertical Aerospace by 420.7% during 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 in the last quarter. 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.