Vertical Aerospace (NYSE:EVTL) Trading Down 1.2% – Here’s Why

Vertical Aerospace Ltd. (NYSE:EVTL) was down 1.2% during trading on Monday . The stock traded as low as $4.30 and last traded at $4.4550. Approximately 1,167,805 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,825,155 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

EVTL has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Vertical Aerospace in a research report on Thursday, September 18th. Cantor Fitzgerald began coverage on shares of Vertical Aerospace in a research report on Friday, August 22nd. They issued an “overweight” rating and a $8.00 price target on the stock. Wall Street Zen lowered shares of Vertical Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. D. Boral Capital reissued a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.43.

Vertical Aerospace Stock Down 1.2%

The company has a market capitalization of $438.94 million, a P/E ratio of -0.09 and a beta of 1.25. The firm has a 50-day moving average price of $5.14 and a two-hundred day moving average price of $5.30.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($1.92). On average, analysts predict that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds have recently modified their holdings of the business. Inherent Management Corp. bought a new stake in shares of Vertical Aerospace in the first quarter valued at approximately $1,109,000. Goldman Sachs Group Inc. acquired a new position in Vertical Aerospace during the first quarter worth $102,000. XTX Topco Ltd acquired a new position in Vertical Aerospace during the first quarter worth $131,000. Raymond James Financial Inc. acquired a new position in Vertical Aerospace during the second quarter worth $102,000. Finally, Jump Financial LLC bought a new stake in shares of Vertical Aerospace during the second quarter worth $91,000. 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.