Vertical Aerospace (NYSE:EVTL) Trading Down 4.9% – Should You Sell?

Vertical Aerospace Ltd. (NYSE:EVTL) shares traded down 4.9% during mid-day trading on Monday . The company traded as low as $5.21 and last traded at $5.2330. 1,161,996 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 1,207,486 shares. The stock had previously closed at $5.50.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EVTL. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. D. Boral Capital restated a “buy” rating and issued a $14.00 price target on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vertical Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Price Performance

The firm has a market cap of $515.61 million, a price-to-earnings ratio of -0.11 and a beta of 1.23. The business’s 50-day moving average price is $4.92 and its two-hundred day moving average price is $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 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 year.

Institutional Investors Weigh In On Vertical Aerospace

A number of institutional investors have recently bought and sold shares of EVTL. Millennium Management LLC increased its position in Vertical Aerospace by 293.4% during the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock worth $9,279,000 after purchasing an additional 1,333,312 shares during the last quarter. Marshall Wace LLP raised 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 worth $7,413,000 after buying an additional 639,404 shares during the period. UBS Group AG raised its position in shares of Vertical Aerospace by 459.1% in the 3rd quarter. UBS Group AG now owns 471,424 shares of the company’s stock worth $2,447,000 after buying an additional 387,104 shares during the period. Two Sigma Investments LP grew its position in Vertical Aerospace by 56.1% during the third quarter. Two Sigma Investments LP now owns 231,967 shares of the company’s stock valued at $1,204,000 after acquiring an additional 83,404 shares during the period. Finally, Verition Fund Management LLC increased its stake in Vertical Aerospace by 1,190.8% during 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 last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About Vertical Aerospace

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.