Vertical Aerospace (NYSE:EVTL) Stock Price Down 6.1% – Time to Sell?

Vertical Aerospace Ltd. (NYSE:EVTL) shares traded down 6.1% on Tuesday . The company traded as low as $6.16 and last traded at $6.2750. 572,662 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,841,908 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

EVTL has been the topic of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $11.00 price target on shares of Vertical Aerospace in a report on Monday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. 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. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Vertical Aerospace in a research note on Thursday, September 18th. Finally, Needham & Company LLC restated 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. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Stock Performance

The firm has a market capitalization of $621.89 million, a P/E ratio of -0.13 and a beta of 1.21. The company has a 50-day moving average price of $5.21 and a 200-day moving average price of $5.38.

Vertical Aerospace (NYSE:EVTL) last posted its 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). Equities analysts predict that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in Vertical Aerospace during the 1st quarter worth about $102,000. Squarepoint Ops LLC boosted its position in shares of Vertical Aerospace by 429.6% during the second quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock worth $948,000 after buying an additional 113,580 shares during the period. Rathbones Group PLC acquired a new position in shares of Vertical Aerospace during the second quarter worth about $356,000. CreativeOne Wealth LLC bought a new position in shares of Vertical Aerospace during the second quarter worth about $91,000. Finally, Watts Gwilliam & Co. LLC acquired a new stake in Vertical Aerospace in the 2nd quarter valued at approximately $102,000. 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.