Vertical Aerospace (NYSE:EVTL) Trading 8.3% Higher – Here’s Why

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) rose 8.3% during mid-day trading on Wednesday . The stock traded as high as $5.37 and last traded at $5.3610. Approximately 1,420,900 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 1,106,850 shares. The stock had previously closed at $4.95.

Analyst Ratings Changes

Several research firms recently issued reports on EVTL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 target price on shares of Vertical Aerospace in a research note on Monday, September 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Vertical Aerospace in a report on Thursday, September 18th. Finally, D. Boral Capital reissued a “buy” rating and issued a $14.00 price target on shares of Vertical Aerospace in a report on Wednesday. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Vertical Aerospace Trading Up 2.6%

The stock has a 50 day simple moving average of $4.82 and a 200 day simple moving average of $5.32. The stock has a market cap of $664.09 million, a P/E ratio of -0.14 and a beta of 1.23.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its position in 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 purchasing an additional 1,333,312 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Vertical Aerospace by 81.1% in the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after purchasing an additional 639,404 shares during the last quarter. UBS Group AG lifted 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 worth $2,447,000 after buying an additional 387,104 shares during the period. Inherent Management Corp. acquired a new position in shares of Vertical Aerospace in the first quarter worth approximately $1,109,000. Finally, Verition Fund Management LLC boosted its holdings in 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 acquiring an additional 180,032 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

About Vertical Aerospace

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.