Vertical Aerospace (NYSE:EVTL) Shares Up 2.6% – Here’s What Happened

Vertical Aerospace Ltd. (NYSE:EVTL) shares were up 2.6% during mid-day trading on Friday . The stock traded as high as $7.05 and last traded at $6.74. Approximately 3,482,185 shares changed hands during trading, an increase of 203% from the average daily volume of 1,150,012 shares. The stock had previously closed at $6.57.

Analyst Upgrades and Downgrades

Several analysts have commented on EVTL shares. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Vertical Aerospace in a research report on Thursday, September 18th. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Five 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 currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Vertical Aerospace Trading Up 2.6%

The firm has a market capitalization of $664.09 million, a PE ratio of -0.14 and a beta of 1.23. The firm has a 50-day moving average of $4.82 and a two-hundred day moving average of $5.32.

Vertical Aerospace (NYSE:EVTL) last announced 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). Equities research analysts expect that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVTL. XTX Topco Ltd purchased a new stake in Vertical Aerospace during the first quarter worth approximately $131,000. Inherent Management Corp. purchased a new stake in Vertical Aerospace during the 1st quarter worth $1,109,000. Goldman Sachs Group Inc. acquired a new stake in Vertical Aerospace in the 1st quarter valued at $102,000. Rathbones Group PLC purchased a new position in Vertical Aerospace in the second quarter valued at about $356,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Vertical Aerospace by 120.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock worth $26,000 after purchasing an additional 2,066 shares in the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

About Vertical Aerospace

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.