Vertical Aerospace (NYSE:EVTL) Shares Up 2.2% – Time to Buy?
by Amy Steele · The Cerbat GemShares of Vertical Aerospace Ltd. (NYSE:EVTL – Get Free Report) traded up 2.2% on Wednesday . The stock traded as high as $6.39 and last traded at $6.2950. 1,261,720 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 1,896,837 shares. The stock had previously closed at $6.16.
Analysts Set New Price Targets
Several analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price 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 report on Monday, November 10th. Finally, Needham & Company LLC reaffirmed 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. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.80.
Get Our Latest Stock Report on EVTL
Vertical Aerospace Stock Up 2.2%
The stock has a fifty day moving average of $5.25 and a 200-day moving average of $5.38. The firm has a market capitalization of $628.18 million, a P/E ratio of -0.13 and a beta of 1.21.
Vertical Aerospace (NYSE:EVTL – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of EVTL. SBI Securities Co. Ltd. lifted its holdings in 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 raised 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 worth $45,000 after acquiring an additional 4,850 shares during the last quarter. Quarry LP bought a new stake in shares of Vertical Aerospace during the third quarter worth $49,000. Oppenheimer & Co. Inc. acquired a new position in shares of Vertical Aerospace during the third quarter valued at $52,000. Finally, Virtu Financial LLC bought a new position in Vertical Aerospace in the third quarter valued at about $53,000. 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.