Vertical Aerospace (NYSE:EVTL) Sees Large Volume Increase - Here's What Happened

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).

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw an uptick in trading volume on Thursday . 912,687 shares were traded during 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 Analyst Weigh In

Several brokerages have recently commented on EVTL. Wall Street Zen downgraded shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. D. Boral Capital restated a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday. Needham & Company LLC restated a "buy" rating and set a $9.00 price objective on shares of Vertical Aerospace in a research report on Thursday. HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday. Finally, Cantor Fitzgerald initiated coverage on shares of Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.43.

Vertical Aerospace Trading Up 10.2%

The company's 50 day moving average price is $5.43 and its 200 day moving average price is $4.91.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its quarterly earnings data 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). Research analysts predict that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in Vertical Aerospace by 398.9% in the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company's stock valued at $5,341,000 after purchasing an additional 630,778 shares during the last quarter. Inherent Management Corp. acquired a new position in Vertical Aerospace in the 1st quarter valued at about $1,109,000. Squarepoint Ops LLC boosted its holdings in Vertical Aerospace by 429.6% in 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 last quarter. Jane Street Group LLC acquired a new position in Vertical Aerospace in the 2nd quarter valued at about $833,000. Finally, Rathbones Group PLC acquired a new position in Vertical Aerospace in the 2nd quarter valued at about $356,000. Institutional investors and hedge funds own 81.17% of the company's stock.

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.