Traders Purchase Large Volume of Vertical Aerospace Call Options (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) was the target of unusually large options trading activity on Tuesday. Investors bought 5,217 call options on the stock. This represents an increase of approximately 161% compared to the typical daily volume of 1,999 call options.

Institutional Trading of Vertical Aerospace

Hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. grew its holdings in Vertical Aerospace by 25.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company’s stock valued at $77,000 after purchasing an additional 2,963 shares during the last quarter. Barclays PLC grew its holdings in Vertical Aerospace by 156.0% during the 4th quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after purchasing an additional 4,170 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Vertical Aerospace by 144.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after purchasing an additional 4,850 shares during the last quarter. EFG International AG bought a new position in Vertical Aerospace during the 4th quarter valued at about $27,000. Finally, LPL Financial LLC grew its holdings in Vertical Aerospace by 65.3% during the 4th quarter. LPL Financial LLC now owns 18,255 shares of the company’s stock valued at $97,000 after purchasing an additional 7,209 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Canaccord Genuity Group decreased their price target on shares of Vertical Aerospace from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Thursday, March 26th. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Vertical Aerospace in a research note on Tuesday, March 31st. William Blair initiated coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price (up from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.10.

Vertical Aerospace Price Performance

Shares of NYSE EVTL traded down $0.11 during mid-day trading on Tuesday, hitting $2.21. 2,226,074 shares of the company’s stock traded hands, compared to its average volume of 1,795,066. The company’s 50-day moving average is $3.88 and its two-hundred day moving average is $4.80. The company has a market capitalization of $225.64 million, a P/E ratio of -0.72 and a beta of 1.46. Vertical Aerospace has a 1 year low of $1.90 and a 1 year high of $7.60.

Vertical Aerospace (NYSE:EVTL) last announced its earnings results on Wednesday, March 25th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Equities analysts anticipate that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

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.