Vertical Aerospace Ltd. $EVTL Shares Sold by Mudrick Capital Management L.P.

Mudrick Capital Management L.P. lessened its position in shares of Vertical Aerospace Ltd. (NYSE:EVTL) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,159,585 shares of the company’s stock after selling 2,500,000 shares during the quarter. Vertical Aerospace comprises approximately 20.3% of Mudrick Capital Management L.P.’s portfolio, making the stock its 2nd largest position. Mudrick Capital Management L.P. owned about 0.38% of Vertical Aerospace worth $90,758,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EFG International AG purchased a new position in Vertical Aerospace in the fourth quarter worth approximately $27,000. Bessemer Group Inc. purchased a new stake in Vertical Aerospace in the first quarter valued at $31,000. Barclays PLC lifted its stake in shares of Vertical Aerospace by 156.0% in the 4th quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after purchasing an additional 4,170 shares during the last quarter. Cornerstone Capital Inc. acquired a new position in shares of Vertical Aerospace in the 2nd quarter valued at $47,000. Finally, Quarry LP purchased a new position in shares of Vertical Aerospace during the 3rd quarter worth $49,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVTL. Barclays raised Vertical Aerospace to a “strong sell” rating in a research report on Wednesday, July 29th. Needham & Company LLC lowered their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Vertical Aerospace currently has a consensus rating of “Hold” and an average target price of $10.62.

Vertical Aerospace Stock Down 1.9%

NYSE:EVTL opened at $0.59 on Wednesday. Vertical Aerospace Ltd. has a 52 week low of $0.57 and a 52 week high of $7.33. The stock’s fifty day moving average is $1.18 and its two-hundred day moving average is $2.23. The stock has a market capitalization of $81.23 million, a price-to-earnings ratio of -0.38 and a beta of 1.48.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). On average, sell-side analysts expect that Vertical Aerospace Ltd. will post -1.14 EPS for the current fiscal year.

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.