Vertical Aerospace (NYSE:EVTL) Stock Price Down 5.1% – Should You Sell?

Vertical Aerospace Ltd. (NYSE:EVTL) shares dropped 5.1% on Wednesday . The stock traded as low as $5.03 and last traded at $5.0750. Approximately 1,930,272 shares were traded during trading, an increase of 12% from the average daily volume of 1,730,096 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

A number of analysts recently weighed in on EVTL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a report on Wednesday, December 3rd. William Blair initiated coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They set an “outperform” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price (up previously from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Six 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 currently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Vertical Aerospace Price Performance

The firm has a 50 day moving average price of $5.56 and a 200-day moving average price of $5.35. The firm has a market cap of $506.42 million, a price-to-earnings ratio of -0.10 and a beta of 1.21.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results 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, sell-side analysts expect that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of Vertical Aerospace during the 1st quarter worth approximately $102,000. Squarepoint Ops LLC lifted its holdings in Vertical Aerospace by 429.6% during the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock valued at $948,000 after purchasing an additional 113,580 shares during the last quarter. Rathbones Group PLC bought a new position in Vertical Aerospace during the second quarter worth $356,000. CreativeOne Wealth LLC acquired a new stake in shares of Vertical Aerospace during the 2nd quarter worth about $91,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Vertical Aerospace by 120.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock worth $26,000 after buying an additional 2,066 shares during the period. Institutional investors and hedge funds 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.