Vertical Aerospace (NYSE:EVTL) Shares Down 2.9% – Should You Sell?

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) traded down 2.9% on Monday . The stock traded as low as $5.59 and last traded at $5.5950. 1,634,096 shares were traded during trading, an increase of 36% from the average session volume of 1,203,191 shares. The stock had previously closed at $5.76.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. D. Boral Capital restated a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vertical Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

Vertical Aerospace Price Performance

The stock has a 50-day moving average price of $4.91 and a 200-day moving average price of $5.36. The company has a market capitalization of $501.03 million, a P/E ratio of -0.10 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). Sell-side analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EVTL. SBI Securities Co. Ltd. boosted its position in shares of Vertical Aerospace by 120.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after purchasing an additional 2,066 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Vertical Aerospace by 144.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock worth $45,000 after buying an additional 4,850 shares in the last quarter. Quarry LP bought a new position in shares of Vertical Aerospace during the 3rd quarter worth approximately $49,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Vertical Aerospace during the 3rd quarter worth approximately $52,000. Finally, Virtu Financial LLC bought a new stake in shares of Vertical Aerospace in the 3rd quarter valued at $53,000. 81.17% of the stock is owned by institutional investors.

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.