Vertical Aerospace (NYSE:EVTL) Shares Down 3.4% – Should You Sell?

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price fell 3.4% during mid-day trading on Thursday . The stock traded as low as $4.78 and last traded at $4.9150. 1,799,861 shares traded hands during trading, an increase of 3% from the average session volume of 1,743,621 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

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

Vertical Aerospace Trading Down 3.4%

The firm has a 50-day moving average of $5.58 and a two-hundred day moving average of $5.34. The firm has a market cap of $490.47 million, a price-to-earnings ratio of -0.10 and a beta of 1.21.

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

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVTL. SBI Securities Co. Ltd. lifted its position in shares of Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock worth $26,000 after acquiring an additional 2,066 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Vertical Aerospace by 144.3% in the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after purchasing an additional 4,850 shares in the last quarter. Quarry LP acquired a new position in shares of Vertical Aerospace in the third quarter valued at $49,000. Oppenheimer & Co. Inc. acquired a new stake in Vertical Aerospace during the third quarter worth $52,000. Finally, Virtu Financial LLC bought a new stake in Vertical Aerospace in the 3rd quarter valued at $53,000. 81.17% of the stock is currently 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.