Vertical Aerospace (NYSE:EVTL) Shares Up 8.3% – What’s Next?

Vertical Aerospace Ltd. (NYSE:EVTL) traded up 8.3% on Thursday . The company traded as high as $6.64 and last traded at $6.75. 682,039 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,713,186 shares. The stock had previously closed at $6.23.

Analysts Set New Price Targets

Several analysts recently commented on EVTL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. D. Boral Capital reissued a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. William Blair assumed coverage on Vertical Aerospace in a report on Wednesday. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Vertical Aerospace Price Performance

The company has a market cap of $657.12 million, a PE ratio of -0.13 and a beta of 1.21. The stock has a fifty day moving average price of $5.17 and a 200-day moving average price of $5.38.

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). On average, equities analysts anticipate that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. increased its stake in Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after buying an additional 2,066 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Vertical Aerospace by 144.3% in 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 purchased a new stake in shares of Vertical Aerospace during the third quarter worth $49,000. Oppenheimer & Co. Inc. acquired a new stake in Vertical Aerospace during the third quarter valued at $52,000. Finally, Virtu Financial LLC purchased a new position in Vertical Aerospace in the third quarter valued at about $53,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.