Vertical Aerospace (NYSE:EVTL) Shares Down 2.5% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price fell 2.5% during mid-day trading on Friday . The company traded as low as $5.57 and last traded at $5.6050. 1,076,824 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 1,690,431 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

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

Vertical Aerospace Trading Down 2.5%

The stock has a market capitalization of $559.32 million, a price-to-earnings ratio of -0.11 and a beta of 1.21. The company’s 50-day simple moving average is $5.48 and its 200-day simple moving average is $5.36.

Vertical Aerospace (NYSE:EVTL) last announced 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, equities research 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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in Vertical Aerospace during the 4th quarter valued at approximately $54,000. Tudor Investment Corp ET AL raised its stake in Vertical Aerospace by 420.7% during the third quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after buying an additional 134,551 shares during the last quarter. Connective Capital Management LLC acquired a new stake in Vertical Aerospace during the 3rd quarter worth about $262,000. PharVision Advisers LLC acquired a new position in shares of Vertical Aerospace in the 3rd quarter valued at about $294,000. Finally, Verition Fund Management LLC lifted its stake in shares of Vertical Aerospace by 1,190.8% in the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after purchasing an additional 180,032 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

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.