Vertical Aerospace (NYSE:EVTL) Trading Down 7.6% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price traded down 7.6% on Tuesday . The company traded as low as $6.14 and last traded at $6.1750. 1,631,946 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 2,000,561 shares. The stock had previously closed at $6.68.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EVTL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 target price on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Price Performance

The stock has a fifty day moving average of $5.21 and a 200 day moving average of $5.38. The stock has a market cap of $616.20 million, a price-to-earnings ratio of -0.13 and a beta of 1.21.

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

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in Vertical Aerospace during the first quarter worth about $102,000. Squarepoint Ops LLC grew its stake in shares of Vertical Aerospace by 429.6% during the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock worth $948,000 after purchasing an additional 113,580 shares during the period. Rathbones Group PLC acquired a new stake in shares of Vertical Aerospace during the 2nd quarter worth approximately $356,000. CreativeOne Wealth LLC purchased a new position in shares of Vertical Aerospace during the 2nd quarter valued at approximately $91,000. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Vertical Aerospace in the 2nd quarter valued at $102,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.