Renaissance Technologies LLC Makes New $237,000 Investment in Vertical Aerospace Ltd. (NYSE:EVTL)

Renaissance Technologies LLC purchased a new stake in shares of Vertical Aerospace Ltd. (NYSE:EVTL) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 18,800 shares of the company’s stock, valued at approximately $237,000.

Separately, Mudrick Capital Management L.P. boosted its stake in Vertical Aerospace by 11,735.9% during the fourth quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company’s stock valued at $595,582,000 after buying an additional 46,943,585 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Vertical Aerospace from $16.00 to $13.50 and set a “buy” rating on the stock in a report on Friday, January 24th. HC Wainwright initiated coverage on shares of Vertical Aerospace in a research report on Friday, February 7th. They set a “buy” rating and a $12.00 target price for the company. Finally, D. Boral Capital assumed coverage on shares of Vertical Aerospace in a report on Thursday, March 27th. They issued a “buy” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.10.

Vertical Aerospace Price Performance

EVTL stock opened at $4.29 on Tuesday. Vertical Aerospace Ltd. has a one year low of $2.76 and a one year high of $15.99. The company’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $5.82.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($46.25) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($45.51). As a group, analysts anticipate that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

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.