Vertical Aerospace (NYSE:EVTL) Stock Price Down 5.2% – Here’s What Happened

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) traded down 5.2% during trading on Tuesday . The stock traded as low as $5.66 and last traded at $5.7360. 1,616,651 shares were traded during trading, a decline of 11% from the average session volume of 1,812,660 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

EVTL has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective (up previously from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a report on Monday, September 22nd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Stock Performance

The business’s 50-day moving average is $5.39 and its two-hundred day moving average is $5.36. The stock has a market capitalization of $572.40 million, a PE ratio of -0.12 and a beta of 1.21.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Equities analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in Vertical Aerospace during the 1st quarter valued at $102,000. Rathbones Group PLC acquired a new stake in Vertical Aerospace in the second quarter worth about $356,000. SBI Securities Co. Ltd. grew its position in Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after buying an additional 2,066 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Vertical Aerospace in the 2nd quarter valued at about $91,000. Finally, Marshall Wace LLP lifted its position in Vertical Aerospace by 398.9% in the second quarter. Marshall Wace LLP now owns 788,895 shares of the company’s stock worth $5,341,000 after purchasing an additional 630,778 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

About Vertical Aerospace

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.