Vertical Aerospace (NYSE:EVTL) Sees Strong Trading Volume - Here's What Happened

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,620,068 shares were traded during trading, an increase of 311% from the previous session's volume of 393,893 shares.The stock last traded at $5.32 and had previously closed at $4.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EVTL shares. D. Boral Capital reissued a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, July 10th. Canaccord Genuity Group decreased their price target on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday. 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 report on Monday, June 9th. Finally, Needham & Company LLC started coverage on shares of Vertical Aerospace in a report on Thursday. They issued a "buy" rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Vertical Aerospace has a consensus rating of "Moderate Buy" and an average target price of $10.83.

Vertical Aerospace Price Performance

The stock has a 50 day moving average of $5.66 and a 200 day moving average of $5.34.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $4.84. On average, equities analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVTL. Mudrick Capital Management L.P. grew its stake in shares of 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 valued at $595,582,000 after buying an additional 46,943,585 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Vertical Aerospace during the fourth quarter valued at about $237,000. Marshall Wace LLP bought a new position in shares of Vertical Aerospace during the fourth quarter valued at about $630,000. Jane Street Group LLC bought a new position in shares of Vertical Aerospace during the fourth quarter valued at about $300,000. Finally, Bank of America Corp DE bought a new position in shares of Vertical Aerospace during the fourth quarter valued at about $264,000. Institutional investors 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.