Vertical Aerospace (NYSE:EVTL) Sees Strong Trading Volume – Still a Buy?

Vertical Aerospace Ltd. (NYSE:EVTL) shares saw strong trading volume on Wednesday . 388,738 shares were traded during mid-day trading, an increase of 92% from the previous session’s volume of 202,343 shares.The stock last traded at $6.23 and had previously closed at $6.16.

Wall Street Analyst Weigh In

EVTL has been the subject of a number of research analyst reports. HC Wainwright began coverage on Vertical Aerospace in a research report on Friday, February 7th. They issued a “buy” rating and a $12.00 price target for the company. D. Boral Capital assumed coverage on shares of Vertical Aerospace in a report on Thursday, March 27th. They set a “buy” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.10.

Vertical Aerospace Price Performance

The stock has a fifty day moving average price of $4.10 and a two-hundred day moving average price of $5.80.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $4.84. Equities research analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors have recently modified their holdings of the company. Mudrick Capital Management L.P. boosted its position 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 worth $595,582,000 after acquiring an additional 46,943,585 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Vertical Aerospace during the 4th quarter worth $237,000. Marshall Wace LLP acquired a new stake in shares of Vertical Aerospace during the fourth quarter worth $630,000. Jane Street Group LLC purchased a new stake in shares of Vertical Aerospace in the fourth quarter valued at $300,000. Finally, Bank of America Corp DE purchased a new stake in shares of Vertical Aerospace in the fourth quarter valued at $264,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

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.