Vertical Aerospace (NYSE:EVTL) Trading 5.6% Higher - Here's Why

Key Points

• Vertical Aerospace's stock rose by 5.6% to a trading price of $6.63, with a notable increase in volume compared to its average session.
• Analysts maintain a "Moderate Buy" rating for the stock, with an average price target of $10.83, despite one sell and one hold rating among the analysts.
• In the recent earnings report, the company reported $4.44 EPS, significantly surpassing the consensus estimate of -$0.40.
• Institutional investors control 81.17% of shares in Vertical Aerospace, indicating strong interest from large investment firms.

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) traded up 5.6% during trading on Friday . The stock traded as high as $6.63 and last traded at $6.63. 908,479 shares changed hands during trading, an increase of 14% from the average session volume of 793,497 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target (up previously from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Canaccord Genuity Group dropped their price target on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Finally, Needham & Company LLC assumed coverage on shares of Vertical Aerospace in a research report on Thursday, July 17th. They set a "buy" rating and a $9.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.83.

Vertical Aerospace Stock Performance

The firm's 50 day simple moving average is $5.82 and its 200-day simple moving average is $5.16.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $4.84. As a group, sell-side 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 business. Connective Capital Management LLC purchased a new position in shares of Vertical Aerospace in the fourth quarter valued at $189,000. Renaissance Technologies LLC purchased a new position in shares of Vertical Aerospace in the fourth quarter valued at $237,000. Bank of America Corp DE purchased a new position in shares of Vertical Aerospace in the fourth quarter valued at $264,000. Jane Street Group LLC purchased a new position in shares of Vertical Aerospace in the fourth quarter valued at $300,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Vertical Aerospace in the first quarter valued at $102,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

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.

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