Vertical Aerospace Sees Unusually Large Options Volume (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) was the recipient of some unusual options trading activity on Wednesday. Investors bought 2,892 call options on the company. This represents an increase of approximately 188% compared to the average volume of 1,005 call options.

Hedge Funds Weigh In On Vertical Aerospace

A number of hedge funds have recently bought and sold shares of EVTL. Marshall Wace LLP raised its position in Vertical Aerospace by 398.9% in the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company's stock worth $5,341,000 after buying an additional 630,778 shares during the last quarter. Inherent Management Corp. bought a new stake in shares of Vertical Aerospace during the 1st quarter valued at about $1,109,000. Jane Street Group LLC bought a new stake in shares of Vertical Aerospace during the 2nd quarter valued at about $833,000. Squarepoint Ops LLC grew its stake in shares of Vertical Aerospace by 429.6% during the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company's stock valued at $948,000 after purchasing an additional 113,580 shares during the period. Finally, Rathbones Group PLC bought a new stake in shares of Vertical Aerospace during the 2nd quarter valued at about $356,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVTL. Wall Street Zen cut shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Cantor Fitzgerald initiated coverage on shares of Vertical Aerospace in a report on Friday, August 22nd. They set an "overweight" rating and a $8.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target (up previously from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Canaccord Genuity Group lowered 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. Finally, Needham & Company LLC initiated coverage on Vertical Aerospace in a research report on Thursday, July 17th. They issued a "buy" rating and a $9.00 price target for the company. 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 MarketBeat, Vertical Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $10.43.

Vertical Aerospace Trading Up 0.2%

NYSE:EVTL traded up $0.01 during mid-day trading on Monday, reaching $5.32. The company's stock had a trading volume of 810,378 shares, compared to its average volume of 855,751. Vertical Aerospace has a 12-month low of $2.76 and a 12-month high of $15.99. The firm's fifty day moving average price is $5.48 and its two-hundred day moving average price is $4.88. The stock has a market cap of $524.18 million, a P/E ratio of -0.11 and a beta of 1.24.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($1.92). Analysts predict that Vertical Aerospace will post -3.95 earnings per share for the current fiscal year.

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.