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

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.69, but opened at $6.10. Vertical Aerospace shares last traded at $6.51, with a volume of 2,597,248 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EVTL. HC Wainwright restated a "buy" rating and set a $15.00 target price (up from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Canaccord Genuity Group decreased their target price on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. Needham & Company LLC initiated coverage on shares of Vertical Aerospace in a research report on Thursday. They set a "buy" rating and a $9.00 price target on the stock. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, July 10th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.83.

Vertical Aerospace Stock Performance

The stock's 50-day moving average is $5.71 and its 200-day moving average is $5.21.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mudrick Capital Management L.P. boosted its stake in shares of Vertical Aerospace by 11,735.9% during the 4th 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 period. Renaissance Technologies LLC bought a new position in Vertical Aerospace in the 4th quarter worth $237,000. Marshall Wace LLP bought a new position in Vertical Aerospace in the 4th quarter worth $630,000. Jane Street Group LLC bought a new position in Vertical Aerospace in the 4th quarter worth $300,000. Finally, Bank of America Corp DE bought a new position in Vertical Aerospace in the 4th quarter worth $264,000. 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.