Vertical Aerospace (NYSE:EVTL) Trading 3.5% Higher – Here’s What Happened

by · The Markets Daily

Vertical Aerospace Ltd. (NYSE:EVTL – Get Free Report) shares were up 3.5% during mid-day trading on Thursday . The company traded as high as $5.49 and last traded at $5.27. Approximately 1,511,548 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 1,209,285 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a report on Thursday, September 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. D. Boral Capital reissued a “buy” rating and issued a $14.00 price objective on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, October 8th. Five 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.80.

Read Our Latest Research Report on Vertical Aerospace

Vertical Aerospace Trading Up 5.1%

The business has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $5.36. The stock has a market capitalization of $545.86 million, a P/E ratio of -0.11 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL – Get Free Report) last posted its 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, research analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL boosted its position in Vertical Aerospace by 420.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock valued at $864,000 after buying an additional 134,551 shares during the period. Connective Capital Management LLC purchased a new position in Vertical Aerospace during the third quarter valued at $262,000. PharVision Advisers LLC bought a new stake in Vertical Aerospace during the 3rd quarter valued at about $294,000. Verition Fund Management LLC lifted its position in Vertical Aerospace by 1,190.8% in the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after acquiring an additional 180,032 shares in the last quarter. Finally, Quarry LP bought a new stake in Vertical Aerospace in the 3rd quarter worth about $49,000. Institutional investors own 81.17% of the company’s stock.

About Vertical Aerospace

(Get Free Report)

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.

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