Vertical Aerospace (NYSE:EVTL) Stock Price Down 3.4% - Time to Sell?

Key Points

• Vertical Aerospace's stock dropped 3.4% to $5.75 with a significant decrease in trading volume, indicating potential investor concern.
• Analysts have mixed ratings for Vertical Aerospace, with six recommending a "Buy," while Weiss Ratings issued a "Sell" rating, reflecting uncertainty in future performance.
• The company reported earnings of ($2.35) per share, missing analysts' expectations, and is projected to have an average EPS of -$3.95 for the current fiscal year.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares dropped 3.4% on Wednesday . The company traded as low as $5.78 and last traded at $5.75. Approximately 356,106 shares changed hands during trading, a decline of 64% from the average daily volume of 983,660 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

EVTL has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $9.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Canaccord Genuity Group restated a "buy" rating and set a $11.00 target price on shares of Vertical Aerospace in a report on Monday, September 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of Vertical Aerospace in a report on Wednesday. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Finally, D. Boral Capital restated a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.43.

Vertical Aerospace Stock Down 0.5%

The company has a 50 day moving average price of $5.31 and a 200-day moving average price of $5.07. The company has a market cap of $583.29 million, a price-to-earnings ratio of -0.12 and a beta of 1.25.

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 analysts' consensus estimates of ($0.43) by ($1.92). On average, analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

A number of large investors have recently modified their holdings of EVTL. Marshall Wace LLP raised its position in Vertical Aerospace by 398.9% in the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company's stock valued at $5,341,000 after buying an additional 630,778 shares during the last quarter. Inherent Management Corp. purchased a new stake in Vertical Aerospace in the 1st quarter worth about $1,109,000. Squarepoint Ops LLC increased its holdings in Vertical Aerospace by 429.6% in the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company's stock worth $948,000 after acquiring an additional 113,580 shares during the last quarter. Jane Street Group LLC purchased a new stake in Vertical Aerospace in the 2nd quarter worth about $833,000. Finally, Rathbones Group PLC bought a new position in Vertical Aerospace in the 2nd quarter worth about $356,000. 81.17% of the stock is currently owned by 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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