Vertical Aerospace (NYSE:EVTL) Shares Down 3.9% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL) fell 3.9% during mid-day trading on Friday . The company traded as low as $4.71 and last traded at $4.73. 1,284,053 shares changed hands during trading, a decline of 25% from the average session volume of 1,720,990 shares. The stock had previously closed at $4.92.

Analysts Set New Price Targets

EVTL has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. D. Boral Capital restated a “buy” rating and issued a $14.00 price target on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. William Blair started coverage on Vertical Aerospace in a research report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Stock Down 3.9%

The stock’s 50 day moving average price is $5.60 and its 200-day moving average price is $5.34. The stock has a market capitalization of $472.01 million, a PE ratio of -0.10 and a beta of 1.21.

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

Institutional Investors Weigh In On Vertical Aerospace

Large investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its holdings 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 acquiring an additional 113,580 shares in the last quarter. Rathbones Group PLC bought a new stake in Vertical Aerospace in the second quarter worth $356,000. CreativeOne Wealth LLC purchased a new stake in Vertical Aerospace during the second quarter valued at $91,000. Centiva Capital LP bought a new position in Vertical Aerospace during the third quarter valued at $197,000. Finally, Connective Capital Management LLC purchased a new position in shares of Vertical Aerospace in the 3rd quarter worth $262,000. 81.17% of the stock is owned by 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.