Vertical Aerospace (NYSE:EVTL) Trading 6.2% Higher - Time to Buy?

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) were up 6.2% on Wednesday . The stock traded as high as $5.96 and last traded at $5.99. Approximately 138,398 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 256,292 shares. The stock had previously closed at $5.64.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EVTL shares. HC Wainwright reissued a "buy" rating and issued a $15.00 price objective (up previously from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. D. Boral Capital started coverage on Vertical Aerospace in a research report on Thursday, March 27th. They issued a "buy" rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.70.

Vertical Aerospace Stock Performance

The company has a 50-day moving average of $4.81 and a 200 day moving average of $5.71.

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

Institutional Investors Weigh In On Vertical Aerospace

Institutional investors have recently bought and sold shares of the stock. Mudrick Capital Management L.P. boosted its holdings in 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 acquiring an additional 46,943,585 shares during the period. Jane Street Group LLC purchased a new stake in Vertical Aerospace during the 4th quarter valued at about $300,000. Renaissance Technologies LLC purchased a new stake in Vertical Aerospace during the 4th quarter valued at about $237,000. Bank of America Corp DE purchased a new stake in Vertical Aerospace during the 4th quarter valued at about $264,000. Finally, Connective Capital Management LLC bought a new position in Vertical Aerospace during the 4th quarter valued at approximately $189,000. 81.17% of the stock is currently 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.