Vertical Aerospace (NYSE:EVTL) Shares Down 7.6% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price traded down 7.6% during trading on Tuesday . The company traded as low as $6.14 and last traded at $6.1750. 1,631,946 shares were traded during mid-day trading, a decline of 18% from the average session volume of 2,000,561 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 target price on shares of Vertical Aerospace in a research report on Monday, September 22nd. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. Finally, William Blair started coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They set an “outperform” rating for the company. Six research 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, Vertical Aerospace has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Stock Down 4.4%

The stock has a 50-day moving average of $5.32 and a 200 day moving average of $5.39. The stock has a market cap of $602.13 million, a PE ratio of -0.12 and a beta of 1.21.

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

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors have recently modified their holdings of EVTL. Goldman Sachs Group Inc. purchased a new stake in Vertical Aerospace in the 1st quarter worth approximately $102,000. Squarepoint Ops LLC boosted its holdings in Vertical Aerospace by 429.6% during the second quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock worth $948,000 after buying an additional 113,580 shares in the last quarter. Rathbones Group PLC acquired a new stake in Vertical Aerospace during the second quarter valued at $356,000. CreativeOne Wealth LLC acquired a new position in shares of Vertical Aerospace in the second quarter worth about $91,000. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Vertical Aerospace during the 2nd quarter worth about $102,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.