Vertical Aerospace (NYSE:EVTL) Stock Price Down 2.9% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price was down 2.9% during mid-day trading on Monday . The company traded as low as $5.59 and last traded at $5.5950. Approximately 1,634,096 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 1,203,191 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EVTL shares. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. D. Boral Capital reissued a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $11.00 price objective on shares of Vertical Aerospace in a report on Monday, September 22nd. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Stock Down 2.9%

The company has a market cap of $551.28 million, a PE ratio of -0.11 and a beta of 1.23. The stock’s 50 day simple moving average is $4.93 and its two-hundred day simple moving average is $5.36.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data 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). Analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Trading of Vertical Aerospace

A number of institutional investors have recently added to or reduced their stakes in EVTL. SBI Securities Co. Ltd. increased its holdings in Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after purchasing an additional 2,066 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Vertical Aerospace by 144.3% in the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock worth $45,000 after buying an additional 4,850 shares during the period. Rathbones Group PLC boosted its position in shares of Vertical Aerospace by 16.4% in the third quarter. Rathbones Group PLC now owns 61,273 shares of the company’s stock worth $318,000 after buying an additional 8,626 shares during the period. Quarry LP acquired a new stake in shares of Vertical Aerospace in the third quarter valued at about $49,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Vertical Aerospace during the 3rd quarter valued at about $52,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

About Vertical Aerospace

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.