Vertical Aerospace (NYSE:EVTL) Stock Price Down 3.5% - What's Next?

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares were down 3.5% on Monday . The company traded as low as $6.40 and last traded at $6.50. Approximately 150,025 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 475,227 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $15.00 price target (up previously from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. D. Boral Capital began coverage on shares of Vertical Aerospace in a research report on Thursday, March 27th. They issued a "buy" rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.70.

Vertical Aerospace Price Performance

The company has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $5.61.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last announced its quarterly earnings data 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. As a group, equities analysts expect that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Trading of Vertical Aerospace

Hedge funds have recently added to or reduced their stakes in the business. Mudrick Capital Management L.P. grew its stake in shares of Vertical Aerospace by 11,735.9% during the fourth 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 last quarter. Jane Street Group LLC purchased a new stake in Vertical Aerospace during the 4th quarter valued at about $300,000. Renaissance Technologies LLC bought a new position in Vertical Aerospace during the 4th quarter worth approximately $237,000. Bank of America Corp DE purchased a new position in Vertical Aerospace in the 4th quarter worth approximately $264,000. Finally, Connective Capital Management LLC purchased a new position in Vertical Aerospace in the 4th quarter worth approximately $189,000. 81.17% of the stock is 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.