Vertical Aerospace (NYSE:EVTL) Shares Down 4.6% – Time to Sell?

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) fell 4.6% on Tuesday . The stock traded as low as $5.37 and last traded at $5.4370. 1,052,042 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 1,211,857 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVTL. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 target price on shares of Vertical Aerospace in a research note on Monday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. Finally, D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Vertical Aerospace in a report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Trading Up 0.7%

The firm has a market capitalization of $540.92 million, a P/E ratio of -0.11 and a beta of 1.23. The company’s fifty day simple moving average is $4.89 and its 200 day simple moving average is $5.37.

Vertical Aerospace (NYSE:EVTL) last announced its earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). On average, analysts predict 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 made changes to their positions in EVTL. Millennium Management LLC lifted its stake in shares of Vertical Aerospace by 293.4% in the 3rd quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after purchasing an additional 1,333,312 shares during the period. Marshall Wace LLP grew its stake in Vertical Aerospace by 81.1% in the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after purchasing an additional 639,404 shares during the period. UBS Group AG raised its holdings in Vertical Aerospace by 459.1% in the third quarter. UBS Group AG now owns 471,424 shares of the company’s stock worth $2,447,000 after purchasing an additional 387,104 shares in the last quarter. Two Sigma Investments LP lifted its position in Vertical Aerospace by 56.1% during the third quarter. Two Sigma Investments LP now owns 231,967 shares of the company’s stock valued at $1,204,000 after buying an additional 83,404 shares during the period. Finally, Verition Fund Management LLC lifted its position in Vertical Aerospace by 1,190.8% during the third quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after buying an additional 180,032 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.