Vertical Aerospace (NYSE:EVTL) Stock Price Up 1.1% – Here’s What Happened

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $5.45 and last traded at $5.34. 1,119,025 shares changed hands during trading, a decline of 7% from the average session volume of 1,206,582 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

EVTL has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Cantor Fitzgerald reiterated 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 objective (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. 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. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Trading Up 1.1%

The stock has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $5.35. The company has a market cap of $526.14 million, a PE ratio of -0.11 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, equities research analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL raised its position in shares of Vertical Aerospace by 420.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after purchasing an additional 134,551 shares during the last quarter. Connective Capital Management LLC purchased a new position in Vertical Aerospace during the third quarter worth $262,000. PharVision Advisers LLC acquired a new position in shares of Vertical Aerospace in the third quarter worth $294,000. Verition Fund Management LLC lifted its position 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 acquiring an additional 180,032 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Vertical Aerospace during the third quarter valued at $49,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

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.