Vertical Aerospace (NYSE:EVTL) Shares Up 2.1% - Here's Why

Vertical Aerospace Ltd. (NYSE:EVTL) saw its shares rise by 2.1% on Friday. The stock peaked at $4.30 during the trading session before settling at $4.23. Around 192,768 shares changed hands during the day, which is a significant drop of 65% compared to the average trading volume of 551,656 shares. The previous closing price was $4.14.

Wall Street Analyst Commentary

Several analysts have recently provided insights regarding shares of Vertical Aerospace. Barclays raised their price target for the company from $0.75 to $2.00 while maintaining an "underweight" rating. This adjustment was announced on November 21st. Raymond James confirmed a "market perform" rating in a report issued on November 26th. Meanwhile, Deutsche Bank lowered their price target from $15.00 to $13.00 while keeping a "buy" rating as of December 3rd. Additionally, HC Wainwright initiated coverage on the stock with a "buy" rating and a price target of $12.00 on February 7th. Canaccord Genuity also reduced their price target from $16.00 to $13.50, granting a "buy" rating. In total, one analyst has issued a sell rating, one holds a neutral stance, and three analysts recommend buying the stock. As noted by MarketBeat.com, the consensus rating stands at "Hold" with a target price forecast of $10.13.

Vertical Aerospace Trading Overview

The company has a 50-day simple moving average of $7.38 and a 200-day average of $22.46. Vertical Aerospace last released its quarterly earnings results on December 20th. The report revealed an earnings loss of ($1.92) per share, which fell short of the anticipated loss of ($1.34) by ($0.58). Analysts project that Vertical Aerospace Ltd. will report an average earnings loss of -3.95 EPS for the current fiscal year.

Institutional Investor Activity

Recent changes in institutional ownership show that large investors are making moves in Vertical Aerospace. Connective Capital Management LLC acquired shares worth about $189,000 in the fourth quarter. Renaissance Technologies LLC invested approximately $237,000, while Bank of America Corp DE added a position valued at $264,000. Jane Street Group LLC entered with an investment of $300,000, and Marshall Wace LLP invested around $630,000. Currently, about 81.17% of shares are owned by institutional and hedge funds.

About Vertical Aerospace

Vertical Aerospace Ltd. is an aerospace and technology enterprise focused on designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft. Its flagship product is the VX4, catering to the advanced air mobility sector in the United Kingdom.

Investment Consideration for Vertical Aerospace

Before deciding to invest in Vertical Aerospace, it’s worth noting that analysts view the stock as a holding opportunity. MarketBeat regularly tracks stock recommendations from top-rated analysts and has identified other stocks they currently favor over Vertical Aerospace. It may be beneficial to explore these alternatives before making investment decisions.

Vertical, Aerospace, Stocks