Vertical Aerospace (NYSE:EVTL) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Vertical Aerospace experienced a significant increase in trading volume, with 964,100 shares traded, marking a 19% rise from the previous session.
• Analysts maintain a generally positive outlook, with a consensus price target of $10.83 and the majority rating the stock as a "Moderate Buy."
• The company's recent earnings report showed earnings per share of $4.44, substantially exceeding the expected loss of ($0.40).

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 964,100 shares were traded during trading, an increase of 19% from the previous session's volume of 810,190 shares.The stock last traded at $6.71 and had previously closed at $6.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EVTL shares. Needham & Company LLC started coverage on Vertical Aerospace in a report on Thursday, July 17th. They set a "buy" rating and a $9.00 price target for the company. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a report on Tuesday, July 22nd. HC Wainwright reiterated a "buy" rating and set a $15.00 price target (up from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. Finally, Canaccord Genuity Group lowered their price objective on Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Vertical Aerospace Stock Performance

The company has a 50 day moving average price of $5.93 and a 200 day moving average price of $5.07.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, topping the consensus estimate of ($0.40) by $4.84. As a group, research analysts expect that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Mudrick Capital Management L.P. increased its position in Vertical Aerospace by 11,735.9% during the fourth quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company's stock worth $595,582,000 after buying an additional 46,943,585 shares in the last quarter. Inherent Management Corp. acquired a new stake in shares of Vertical Aerospace during the first quarter valued at $1,109,000. Marshall Wace LLP purchased a new stake in Vertical Aerospace during the 4th quarter worth about $630,000. XTX Topco Ltd acquired a new position in Vertical Aerospace in the 1st quarter valued at about $131,000. Finally, Goldman Sachs Group Inc. purchased a new position in Vertical Aerospace in the 1st quarter valued at about $102,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

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.