Vertical Aerospace (NYSE:EVTL) Sees Large Volume Increase - Should You Buy?

Key Points

• Vertical Aerospace (NYSE:EVTL) experienced a significant increase in trading volume, with approximately 912,687 shares traded, up from the previous day's volume of 877,266 shares.
• Analysts remain bullish on EVTL, with several retaining a "buy" rating and setting price targets between $8.00 and $15.00, while the average price target stands at $10.43.
• The company reported a quarterly loss of ($2.35) earnings per share, missing estimates and prompting projections for an annual EPS of (-3.95).

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw strong trading volume on Thursday . 912,687 shares traded hands during mid-day trading, an increase of 4% from the previous session's volume of 877,266 shares.The stock last traded at $5.22 and had previously closed at $4.75.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Thursday. Cantor Fitzgerald began coverage on Vertical Aerospace in a research note on Friday, August 22nd. They set an "overweight" rating and a $8.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 target price on shares of Vertical Aerospace in a research note on Thursday. Canaccord Genuity Group reiterated a "buy" rating and issued a $11.00 target price on shares of Vertical Aerospace in a report on Monday. Finally, Wall Street Zen cut shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Stock Up 9.7%

The firm has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $4.92. The stock has a market cap of $619.26 million, a PE ratio of -0.12 and a beta of 1.24.

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

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP grew its position in Vertical Aerospace by 398.9% during the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company's stock worth $5,341,000 after acquiring an additional 630,778 shares during the last quarter. Inherent Management Corp. purchased a new position in shares of Vertical Aerospace in the first quarter worth $1,109,000. Jane Street Group LLC bought a new stake in Vertical Aerospace during the 2nd quarter valued at $833,000. Squarepoint Ops LLC boosted its position in 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 buying an additional 113,580 shares during the period. Finally, Rathbones Group PLC bought a new stake in Vertical Aerospace in the 2nd quarter worth $356,000. Institutional investors own 81.17% of the company's stock.

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.