Vertical Aerospace (NYSE:EVTL) Shares Down 3.9% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price fell 3.9% during mid-day trading on Monday . The stock traded as low as $1.5850 and last traded at $1.5950. Approximately 1,750,171 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 1,871,338 shares. The stock had previously closed at $1.66.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVTL. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Vertical Aerospace in a report on Thursday, April 16th. Weiss Ratings lowered shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Canaccord Genuity Group increased their price objective on Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Cantor Fitzgerald cut shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.30.

Vertical Aerospace Stock Performance

The stock’s 50 day simple moving average is $2.24 and its two-hundred day simple moving average is $3.44. The firm has a market capitalization of $200.54 million, a PE ratio of -0.46 and a beta of 1.52.

Vertical Aerospace (NYSE:EVTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.12. Equities research analysts expect that Vertical Aerospace Ltd. will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of EVTL. EFG International AG purchased a new position in Vertical Aerospace during the 4th quarter worth approximately $27,000. Barclays PLC lifted its holdings in shares of Vertical Aerospace by 156.0% during the fourth quarter. Barclays PLC now owns 6,843 shares of the company’s stock worth $36,000 after purchasing an additional 4,170 shares during the period. Quarry LP acquired a new stake in shares of Vertical Aerospace during the third quarter worth $49,000. Farther Finance Advisors LLC purchased a new position in Vertical Aerospace in the 4th quarter valued at $54,000. Finally, Virtu Financial LLC acquired a new position in Vertical Aerospace in the 3rd quarter valued at $53,000. Institutional investors and hedge funds 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.