Vertical Aerospace (NYSE:EVTL) Trading Down 5.8% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL) shares dropped 5.8% during mid-day trading on Monday . The stock traded as low as $6.31 and last traded at $6.38. Approximately 1,948,698 shares were traded during trading, an increase of 69% from the average daily volume of 1,151,999 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EVTL. D. Boral Capital reiterated a “buy” rating and issued a $14.00 price objective on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Vertical Aerospace in a report on Thursday, September 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Vertical Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Vertical Aerospace Price Performance

The stock has a market capitalization of $668.53 million, a price-to-earnings ratio of -0.14 and a beta of 1.23. The business has a 50 day simple moving average of $4.85 and a 200-day simple moving average of $5.33.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). As a group, equities analysts predict that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. increased its position 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 acquiring an additional 2,066 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Vertical Aerospace by 144.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after acquiring an additional 4,850 shares in the last quarter. Quarry LP bought a new stake in Vertical Aerospace in the 3rd quarter valued at $49,000. Oppenheimer & Co. Inc. acquired a new position in Vertical Aerospace in the 3rd quarter worth $52,000. Finally, Virtu Financial LLC bought a new position in Vertical Aerospace during the 3rd quarter worth about $53,000. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

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.