Vertical Aerospace (NYSE:EVTL) Trading 9.4% Higher – Here’s Why
by Doug Wharley · The Cerbat GemVertical Aerospace Ltd. (NYSE:EVTL – Get Free Report)’s share price was up 9.4% during trading on Friday . The stock traded as high as $5.89 and last traded at $5.83. Approximately 1,451,000 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 2,176,719 shares. The stock had previously closed at $5.33.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Vertical Aerospace in a report on Thursday, September 18th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price objective on shares of Vertical Aerospace in a report on Monday, September 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a research report on Monday, November 10th. 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.com, Vertical Aerospace has an average rating of “Moderate Buy” and a consensus price target of $11.80.
Get Our Latest Research Report on EVTL
Vertical Aerospace Stock Up 9.4%
The stock has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $5.35. The company has a market capitalization of $581.78 million, a P/E ratio of -0.12 and a beta of 1.21.
Vertical Aerospace (NYSE:EVTL – Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). Analysts predict that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Vertical Aerospace
Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL grew its holdings in shares of Vertical Aerospace by 420.7% during the third quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after purchasing an additional 134,551 shares during the last quarter. Connective Capital Management LLC acquired a new position in Vertical Aerospace during the 3rd quarter worth about $262,000. PharVision Advisers LLC bought a new stake in Vertical Aerospace during the 3rd quarter worth about $294,000. Verition Fund Management LLC increased 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 position in shares of Vertical Aerospace in the third quarter worth about $49,000. 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.