Traders Buy High Volume of Call Options on Vertical Aerospace (NYSE:EVTL)

Key Points

• Vertical Aerospace Ltd. experienced a significant spike in options trading, with investors purchasing 2,892 call options, an increase of around 188% from the usual volume.
• Institutional investors hold 81.17% of Vertical Aerospace's stock, with several hedge funds increasing their stakes during the second quarter.
• The company reported a earnings per share (EPS) of (2.35), missing the consensus estimate of (0.43), indicating continued financial challenges.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw some unusual options trading activity on Wednesday. Stock investors purchased 2,892 call options on the stock. This is an increase of approximately 188% compared to the typical daily volume of 1,005 call options.

Institutional Trading of Vertical Aerospace

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its holdings 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 valued at $26,000 after purchasing an additional 2,066 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Vertical Aerospace during the second quarter worth about $91,000. Jump Financial LLC acquired a new position in Vertical Aerospace in the 2nd quarter valued at about $91,000. Goldman Sachs Group Inc. acquired a new position in Vertical Aerospace during the 1st quarter worth approximately $102,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Vertical Aerospace in the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

Vertical Aerospace Price Performance

Shares of NYSE:EVTL traded down $0.06 during trading on Wednesday, hitting $4.88. 348,536 shares of the company's stock were exchanged, compared to its average volume of 849,830. The business's 50-day simple moving average is $5.59 and its 200 day simple moving average is $4.87. Vertical Aerospace has a 52-week low of $2.76 and a 52-week high of $15.99. The company has a market cap of $480.33 million, a price-to-earnings ratio of -0.10 and a beta of 1.24.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($1.92). On average, sell-side analysts anticipate that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, August 28th. HC Wainwright restated a "buy" rating and set a $15.00 price target (up from $12.00) on shares of Vertical Aerospace in a report on Monday, June 9th. Wall Street Zen lowered Vertical Aerospace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Cantor Fitzgerald began coverage on Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price objective for the company. Finally, Canaccord Genuity Group dropped their price target on Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $10.43.

About Vertical Aerospace

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.

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