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 share price gapped up prior to trading 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.

Analyst Ratings Changes

Several research analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Vertical Aerospace in a research note on Thursday. Cantor Fitzgerald initiated coverage on Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 target price for the company. D. Boral Capital reissued a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a research report on Thursday. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price objective on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.43.

Vertical Aerospace Stock Performance

The firm has a market cap of $563.59 million, a P/E ratio of -0.11 and a beta of 1.24. The company's 50 day moving average is $5.43 and its 200 day moving average is $4.92.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its quarterly 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). On average, equities research analysts anticipate that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Investors Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently modified their holdings of EVTL. Inherent Management Corp. purchased a new position in Vertical Aerospace during the 1st quarter valued at about $1,109,000. Jane Street Group LLC bought a new position in shares of Vertical Aerospace in the fourth quarter worth approximately $300,000. Bank of America Corp DE purchased a new position in shares of Vertical Aerospace in the fourth quarter worth $264,000. XTX Topco Ltd purchased a new stake in shares of Vertical Aerospace in the first quarter valued at $131,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Vertical Aerospace in the first quarter worth about $102,000. 81.17% of the stock is 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.