Vertical Aerospace (NYSE:EVTL) Trading 5.6% Higher - Should You Buy?

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.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EVTL. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target (up from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. D. Boral Capital reissued a "buy" rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Tuesday, July 22nd. Canaccord Genuity Group dropped their target price on Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Finally, Needham & Company LLC began coverage on Vertical Aerospace in a report on Thursday, July 17th. They set a "buy" rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Vertical Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $10.83.

Vertical Aerospace Trading Down 3.3%

The business has a fifty day moving average price of $5.87 and a 200-day moving average price of $5.07.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVTL. Mudrick Capital Management L.P. raised its stake in shares of Vertical Aerospace by 11,735.9% in the fourth 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 during the period. Jane Street Group LLC bought a new position in shares of Vertical Aerospace in the fourth quarter worth about $300,000. Renaissance Technologies LLC bought a new position in shares of Vertical Aerospace in the fourth quarter worth about $237,000. Bank of America Corp DE bought a new position in shares of Vertical Aerospace in the fourth quarter worth about $264,000. Finally, Connective Capital Management LLC bought a new position in shares of Vertical Aerospace in the fourth quarter worth about $189,000. Institutional investors own 81.17% of the company's stock.

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.