Vertical Aerospace (NYSE:EVTL) Shares Down 2.5% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL) fell 2.5% during trading on Friday . The stock traded as low as $5.57 and last traded at $5.6050. 1,076,824 shares changed hands during trading, a decline of 36% from the average session volume of 1,690,431 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EVTL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective (up previously from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a research note on Monday, November 10th. William Blair started coverage on shares of Vertical Aerospace in a report on Wednesday, January 7th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday. Finally, D. Boral Capital reissued a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vertical Aerospace has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Trading Down 2.5%

The firm has a market cap of $559.32 million, a P/E ratio of -0.11 and a beta of 1.21. The company’s 50-day moving average is $5.48 and its two-hundred day moving average is $5.36.

Vertical Aerospace (NYSE:EVTL) last announced its earnings results 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). Research analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted 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 worth $26,000 after buying an additional 2,066 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Vertical Aerospace by 144.3% during the third 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 during the last quarter. Rathbones Group PLC increased its position in shares of Vertical Aerospace by 16.4% during the third quarter. Rathbones Group PLC now owns 61,273 shares of the company’s stock valued at $318,000 after acquiring an additional 8,626 shares during the last quarter. Quarry LP bought a new stake in Vertical Aerospace during the third quarter worth $49,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Vertical Aerospace in the third quarter worth $52,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.