Stock Traders Buy Large Volume of Put Options on Vertical Aerospace (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) was the target of unusually large options trading activity on Monday. Stock traders purchased 10,371 put options on the stock. This is an increase of 406% compared to the typical daily volume of 2,050 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays upgraded Vertical Aerospace to a “strong sell” rating in a research note on Wednesday, July 29th. D. Boral Capital reissued a “buy” rating and set a $12.00 price target on shares of Vertical Aerospace in a report on Thursday, April 16th. Weiss Ratings cut shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Canaccord Genuity Group increased their target price on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Vertical Aerospace presently has an average rating of “Hold” and a consensus target price of $11.30.

Institutional Investors Weigh In On Vertical Aerospace

A number of large investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. grew its position in shares of Vertical Aerospace by 194.8% in the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock valued at $25,726,000 after purchasing an additional 7,691,459 shares during the last quarter. Masters Capital Management LLC boosted its position in shares of Vertical Aerospace by 13.3% during the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock valued at $7,514,000 after acquiring an additional 400,000 shares in the last quarter. Millennium Management LLC grew its stake in shares of Vertical Aerospace by 33.5% in the 4th quarter. Millennium Management LLC now owns 2,385,917 shares of the company’s stock valued at $12,717,000 after purchasing an additional 598,127 shares during the period. Marshall Wace LLP increased its position in shares of Vertical Aerospace by 19.1% during the 4th quarter. Marshall Wace LLP now owns 1,701,501 shares of the company’s stock worth $9,069,000 after purchasing an additional 273,202 shares in the last quarter. Finally, Inherent Management Corp. increased its holdings in shares of Vertical Aerospace by 151.3% during the fourth quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock worth $7,099,000 after buying an additional 801,883 shares in the last quarter. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Stock Down 32.0%

Shares of EVTL traded down $0.43 during midday trading on Monday, reaching $0.93. 17,464,358 shares of the stock were exchanged, compared to its average volume of 2,511,382. The company has a market cap of $117.78 million, a price-to-earnings ratio of -0.27 and a beta of 1.54. The firm has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $2.87. Vertical Aerospace has a 12-month low of $0.79 and a 12-month high of $7.33.

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.