Vertical Aerospace (NYSE:EVTL) Trading 3.5% Higher – Should You Buy?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price shot up 3.5% during trading on Thursday . The stock traded as high as $5.49 and last traded at $5.27. 1,511,548 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 1,209,285 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EVTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a research note on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a report on Monday, September 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Vertical Aerospace in a research note on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Trading Up 3.5%

The firm’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $5.36. The stock has a market cap of $519.25 million, a P/E ratio of -0.11 and a beta of 1.23.

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

Institutional Trading of Vertical Aerospace

A number of institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL boosted its position in shares of Vertical Aerospace by 420.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock valued at $864,000 after purchasing an additional 134,551 shares during the period. Connective Capital Management LLC acquired a new stake in shares of Vertical Aerospace during the third quarter valued at approximately $262,000. PharVision Advisers LLC acquired a new position in Vertical Aerospace in the 3rd quarter worth approximately $294,000. Verition Fund Management LLC boosted its stake in Vertical Aerospace by 1,190.8% in the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock worth $1,013,000 after purchasing an additional 180,032 shares during the period. Finally, Quarry LP purchased a new position in Vertical Aerospace during the 3rd quarter worth approximately $49,000. 81.17% of the stock is owned by institutional investors and hedge funds.

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.