Vertical Aerospace Ltd. (NYSE:EVTL) Sees Large Decrease in Short Interest

Key Points

• Short interest in Vertical Aerospace Ltd. decreased by 28.2% in July, with current short interest totaling 1,910,000 shares, representing 2.5% of the company's total shares.
• The company reported a significant earnings miss for the last quarter with an EPS of ($2.35), falling short of analysts' expectations of ($0.43).
• Equities analysts maintain a consensus rating of "Moderate Buy" for Vertical Aerospace, with a price target average of $10.83.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,910,000 shares, adropof28.2% from the July 15th total of 2,660,000 shares. Approximately2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 1.3 days. Approximately2.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of EVTL. Engineers Gate Manager LP purchased a new position in Vertical Aerospace in the 2nd quarter worth approximately $123,000. Jane Street Group LLC bought a new position in shares of Vertical Aerospace in the second quarter worth approximately $833,000. Raymond James Financial Inc. purchased a new position in shares of Vertical Aerospace in the second quarter worth $102,000. Squarepoint Ops LLC increased its stake in shares of Vertical Aerospace by 429.6% in the second quarter. Squarepoint Ops LLC now owns 140,018 shares of the company's stock worth $948,000 after buying an additional 113,580 shares during the period. Finally, Jump Financial LLC bought a new stake in Vertical Aerospace during the 2nd quarter valued at $91,000. 81.17% of the stock is currently owned by institutional investors.

Vertical Aerospace Stock Performance

Shares of EVTL stock traded up $0.5460 on Friday, hitting $5.2060. 1,456,245 shares of the company's stock traded hands, compared to its average volume of 1,241,401. The stock has a market capitalization of $503.31 million, a price-to-earnings ratio of -0.10 and a beta of 1.25. The company's fifty day simple moving average is $5.84 and its 200 day simple moving average is $4.89. Vertical Aerospace has a one year low of $2.76 and a one year high of $15.99.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its quarterly earnings results 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). As a group, sell-side analysts anticipate that Vertical Aerospace will post -3.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EVTL has been the topic of several recent analyst reports. D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price target on shares of Vertical Aerospace in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Canaccord Genuity Group dropped their target price on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Needham & Company LLC started coverage on shares of Vertical Aerospace in a report on Thursday, July 17th. They issued a "buy" rating and a $9.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $15.00 price objective (up previously from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.