Vertical Aerospace (NYSE:EVTL) Shares Down 3.4% – Should You Sell?

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock price traded down 3.4% during mid-day trading on Thursday . The stock traded as low as $4.78 and last traded at $4.9150. 1,799,861 shares were traded during mid-day trading, an increase of 3% from the average session volume of 1,743,621 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EVTL. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. William Blair began coverage on Vertical Aerospace in a report on Wednesday, January 7th. They set an “outperform” rating for the company. Finally, D. Boral Capital restated a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Vertical Aerospace Price Performance

The business has a 50 day simple moving average of $5.58 and a 200 day simple moving average of $5.34. The company has a market cap of $490.47 million, a price-to-earnings ratio of -0.10 and a beta of 1.21.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Vertical Aerospace by 293.4% in the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock worth $9,279,000 after purchasing an additional 1,333,312 shares during the period. Marshall Wace LLP lifted its holdings in Vertical Aerospace by 81.1% during the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after acquiring an additional 639,404 shares in the last quarter. UBS Group AG grew its stake in Vertical Aerospace by 459.1% in the third quarter. UBS Group AG now owns 471,424 shares of the company’s stock valued at $2,447,000 after acquiring an additional 387,104 shares during the period. Verition Fund Management LLC increased its holdings in shares of Vertical Aerospace by 1,190.8% in the third quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock worth $1,013,000 after acquiring an additional 180,032 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position 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 period. Institutional investors and hedge funds 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.