Vertical Aerospace (NYSE:EVTL) Trading Down 3.9% - What's Next?

Key Points

• Vertical Aerospace shares fell 3.9% in Monday trading, with the stock dipping to as low as $1.5850 before last trading near $1.5950. Volume was slightly below average at 1.75 million shares.
• Analyst sentiment remains mixed: Weiss Ratings downgraded the stock, while Cantor Fitzgerald cut its view to neutral; however, D. Boral Capital and Canaccord Genuity kept buy ratings and raised or reaffirmed price targets. Overall, MarketBeat shows a consensus Hold rating with an average target price of $11.30.
• The company recently reported a smaller-than-expected quarterly loss of ($0.40) per share, beating the consensus estimate of ($0.52). Even so, the stock remains well below its 50-day and 200-day moving averages, highlighting continued weakness in the shares.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report)'s share price dropped 3.9% during mid-day trading on Monday . The company traded as low as $1.5850 and last traded at $1.5950. 1,750,171 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 1,871,338 shares. The stock had previously closed at $1.66.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Vertical Aerospace from a "sell (d)" rating to a "sell (e+)" rating in a research note on Friday, May 22nd. D. Boral Capital reaffirmed a "buy" rating and set a $12.00 target price on shares of Vertical Aerospace in a report on Thursday, April 16th. Canaccord Genuity Group lifted their target price on Vertical Aerospace from $9.50 to $10.50 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Cantor Fitzgerald lowered Vertical Aerospace from an "overweight" rating to a "neutral" rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.30.

Vertical Aerospace Stock Down 3.9%

The firm's 50-day moving average price is $2.25 and its 200 day moving average price is $3.47. The firm has a market cap of $203.09 million, a P/E ratio of -0.46 and a beta of 1.52.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.12. On average, equities analysts predict that Vertical Aerospace Ltd. will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Large investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. lifted its stake in shares of Vertical Aerospace by 25.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company's stock worth $77,000 after acquiring an additional 2,963 shares during the period. Barclays PLC increased its stake in shares of Vertical Aerospace by 156.0% during the fourth quarter. Barclays PLC now owns 6,843 shares of the company's stock valued at $36,000 after acquiring an additional 4,170 shares during the period. EFG International AG acquired a new position in shares of Vertical Aerospace during the fourth quarter valued at approximately $27,000. LPL Financial LLC raised its holdings in Vertical Aerospace by 65.3% during the fourth quarter. LPL Financial LLC now owns 18,255 shares of the company's stock worth $97,000 after purchasing an additional 7,209 shares in the last quarter. Finally, J. Derek Lewis & Associates Inc. raised its holdings in Vertical Aerospace by 41.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company's stock worth $72,000 after purchasing an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom–based aerospace manufacturer specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company is publicly listed on the New York Stock Exchange under the ticker EVTL. Vertical Aerospace's mission is to deliver zero-emission, high-speed electric aircraft designed to transform short-haul journeys in densely populated areas.

The company's flagship model, the VA-X4, is a piloted, five-seat eVTOL craft engineered for quiet operation, low running costs and minimal environmental impact.

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