Vertical Aerospace (NYSE:EVTL) Stock Price Down 4.1% - What's Next?

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report)'s stock price fell 4.1% during trading on Friday . The stock traded as low as $6.11 and last traded at $6.19. 967,784 shares were traded during mid-day trading, an increase of 126% from the average session volume of 428,947 shares. The stock had previously closed at $6.45.

Wall Street Analyst Weigh In

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

Vertical Aerospace Stock Down 7.1%

The business's fifty day moving average is $5.71 and its 200-day moving average is $5.21.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, topping the consensus estimate of ($0.40) by $4.84. As a group, analysts expect that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of EVTL. Goldman Sachs Group Inc. purchased a new position in Vertical Aerospace in the 1st quarter valued at $102,000. Inherent Management Corp. acquired a new position in Vertical Aerospace in the 1st quarter valued at about $1,109,000. XTX Topco Ltd acquired a new position in shares of Vertical Aerospace during the first quarter worth about $131,000. Connective Capital Management LLC acquired a new position in shares of Vertical Aerospace during the fourth quarter worth about $189,000. Finally, Bank of America Corp DE acquired a new position in shares of Vertical Aerospace during the fourth quarter worth about $264,000. Institutional investors and hedge funds 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.