Vertical Aerospace (NYSE:EVTL) Shares Gap Up - Should You Buy?

Key Points

• The shares of Vertical Aerospace Ltd. (NYSE:EVTL) gapped up from a previous close of $5.19 to open at $5.35, with the last trading price reaching $5.69 and a trading volume of 620,139 shares.
• Wall Street analysts have a consensus rating of "Moderate Buy" for EVTL, with an average target price of $10.43 and various firms issuing differing ratings, including a high target of $15.00.
• Vertical Aerospace reported a disappointing quarterly EPS of ($2.35), missing estimates by $1.92, while analysts predict an average EPS of -3.95 for the current year.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $5.19, but opened at $5.35. Vertical Aerospace shares last traded at $5.69, with a volume of 620,139 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EVTL. Needham & Company LLC restated a "buy" rating and set a $9.00 price target on shares of Vertical Aerospace in a report on Thursday. D. Boral Capital restated a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a report on Thursday. Canaccord Genuity Group restated a "buy" rating and set a $11.00 price target on shares of Vertical Aerospace in a report on Monday. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a report on Thursday. Finally, Cantor Fitzgerald initiated coverage on Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vertical Aerospace currently has an average rating of "Moderate Buy" and an average target price of $10.43.

Vertical Aerospace Trading Up 9.7%

The company has a fifty day moving average price of $5.43 and a 200-day moving average price of $4.92.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($1.92). As a group, equities research analysts predict that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. increased its position in shares of Vertical Aerospace by 120.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company's stock valued at $26,000 after buying an additional 2,066 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Vertical Aerospace in the 2nd quarter valued at about $91,000. CreativeOne Wealth LLC acquired a new stake in Vertical Aerospace during the 2nd quarter worth approximately $91,000. Watts Gwilliam & Co. LLC acquired a new stake in Vertical Aerospace during the 2nd quarter worth approximately $102,000. Finally, Raymond James Financial Inc. acquired a new stake in Vertical Aerospace during the 2nd quarter worth approximately $102,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

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.