Vertical Aerospace (NYSE:EVTL) Trading Down 4.4% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL) shares traded down 4.4% during mid-day trading on Thursday . The stock traded as low as $6.02 and last traded at $6.0340. 1,359,410 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 1,866,137 shares. The stock had previously closed at $6.31.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EVTL shares. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 target price on shares of Vertical Aerospace in a research note on Monday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. William Blair assumed coverage on Vertical Aerospace in a research report on Wednesday, January 7th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Six 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, the stock has an average rating of “Moderate Buy” and an average price target of $11.80.

Vertical Aerospace Price Performance

The company has a market capitalization of $602.23 million, a price-to-earnings ratio of -0.12 and a beta of 1.21. The firm’s 50-day simple moving average is $5.35 and its two-hundred day simple moving average is $5.38.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). On average, analysts expect that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

Several large investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of 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 buying an additional 1,333,312 shares during the last quarter. Marshall Wace LLP increased its holdings in Vertical Aerospace by 81.1% during the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock valued at $7,413,000 after acquiring an additional 639,404 shares in the last quarter. UBS Group AG increased its holdings in Vertical Aerospace by 459.1% during the 3rd quarter. UBS Group AG now owns 471,424 shares of the company’s stock valued at $2,447,000 after acquiring an additional 387,104 shares in the last quarter. Two Sigma Investments LP raised 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 worth $1,204,000 after acquiring an additional 83,404 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings 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 valued at $1,013,000 after purchasing an additional 180,032 shares in 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.