Vertical Aerospace (NYSE:EVTL) Stock Price Up 14.7% – Time to Buy?

Vertical Aerospace Ltd. (NYSE:EVTL) shares rose 14.7% on Thursday . The company traded as high as $6.68 and last traded at $6.55. Approximately 6,291,657 shares traded hands during mid-day trading, an increase of 452% from the average daily volume of 1,139,781 shares. The stock had previously closed at $5.71.

Analyst Upgrades and Downgrades

EVTL has been the subject of a number of research reports. Wall Street Zen lowered Vertical Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 target price on shares of Vertical Aerospace in a research note on Monday, September 22nd. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.40.

Vertical Aerospace Trading Up 14.7%

The stock has a fifty day moving average of $4.80 and a 200-day moving average of $5.32. The firm has a market capitalization of $645.36 million, a price-to-earnings ratio of -0.13 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last announced its earnings results on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, equities research analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its position in shares of Vertical Aerospace by 120.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock worth $26,000 after acquiring an additional 2,066 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Vertical Aerospace by 144.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after acquiring an additional 4,850 shares in the last quarter. Rathbones Group PLC boosted its stake in Vertical Aerospace by 16.4% in the 3rd quarter. Rathbones Group PLC now owns 61,273 shares of the company’s stock worth $318,000 after purchasing an additional 8,626 shares during the period. Quarry LP purchased a new position in Vertical Aerospace during the 3rd quarter worth approximately $49,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Vertical Aerospace during the 3rd quarter valued at $52,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.