Vertical Aerospace (NYSE:EVTL) Stock Price Up 6.2% - What's Next?

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) rose 6.2% during mid-day trading 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

EVTL has been the subject of several analyst reports. 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 note on Monday, June 9th. D. Boral Capital initiated coverage on shares of Vertical Aerospace in a report on Thursday, March 27th. They set a "buy" rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.70.

Vertical Aerospace Stock Up 5.8%

The firm's 50 day moving average price is $4.68 and its two-hundred day moving average price is $5.74.

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 for the quarter, topping analysts' consensus estimates of ($0.40) by $4.84. As a group, sell-side analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

A number of hedge funds have recently made changes to their positions in the stock. Mudrick Capital Management L.P. lifted 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 worth $595,582,000 after buying an additional 46,943,585 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Vertical Aerospace in the 4th quarter valued at $300,000. Renaissance Technologies LLC acquired a new stake in shares of Vertical Aerospace in the fourth quarter valued at about $237,000. Bank of America Corp DE acquired a new position in shares of Vertical Aerospace in the fourth quarter valued at approximately $264,000. Finally, Connective Capital Management LLC purchased a new stake in Vertical Aerospace during the fourth quarter worth approximately $189,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

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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