Vertical Aerospace (NYSE:EVTL) Shares Gap Down - What's Next?

Key Points

• Vertical Aerospace's stock opened lower at $5.20 after previously closing at $5.39, reflecting a decline of 6.2% in recent trading.
• Multiple analysts have issued ratings for EVTL, with a consensus target price of $10.43 and most recommending a "buy" rating.
• Vertical Aerospace reported a significant earnings miss with an EPS of ($2.35), which fell short of expectations by ($1.92).

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.39, but opened at $5.20. Vertical Aerospace shares last traded at $5.07, with a volume of 253,486 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EVTL shares. D. Boral Capital restated a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a research note on Thursday, September 18th. Cantor Fitzgerald started coverage on shares of Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $11.00 price target on shares of Vertical Aerospace in a research note on Monday, September 22nd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.43.

Vertical Aerospace Stock Down 6.2%

The firm has a 50 day moving average price of $5.41 and a 200 day moving average price of $5.01. The stock has a market cap of $498.07 million, a PE ratio of -0.10 and a beta of 1.24.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its 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). Equities analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its position in Vertical Aerospace by 120.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company's stock valued at $26,000 after acquiring an additional 2,066 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in Vertical Aerospace during the 2nd quarter worth about $91,000. Jump Financial LLC acquired a new stake in Vertical Aerospace in the 2nd quarter valued at about $91,000. Goldman Sachs Group Inc. acquired a new position in shares of Vertical Aerospace during the first quarter worth about $102,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Vertical Aerospace during the second quarter worth about $102,000. 81.17% of the stock is currently 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.

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