Vertical Aerospace (NYSE:EVTL) Stock Price Down 4.1% - Time to Sell?

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares dropped 4.1% during trading on Friday . The company traded as low as $6.11 and last traded at $6.19. Approximately 967,784 shares traded hands during trading, an increase of 126% from the average daily volume of 428,947 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

EVTL has been the topic of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price (up previously from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. D. Boral Capital restated a "buy" rating and issued a $15.00 price target on shares of Vertical Aerospace in a report on Thursday, July 10th. Needham & Company LLC assumed coverage on shares of Vertical Aerospace in a report on Thursday. They issued a "buy" rating and a $9.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $10.83.

Vertical Aerospace Stock Performance

The business has a 50-day moving average price of $5.71 and a 200-day moving average price of $5.25.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its earnings results 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. On average, research analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the business. Mudrick Capital Management L.P. boosted its holdings in shares of Vertical Aerospace by 11,735.9% in the 4th quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company's stock valued at $595,582,000 after buying an additional 46,943,585 shares in the last quarter. Inherent Management Corp. acquired a new stake in Vertical Aerospace in the first quarter valued at approximately $1,109,000. Marshall Wace LLP acquired a new stake in Vertical Aerospace in the fourth quarter valued at approximately $630,000. XTX Topco Ltd acquired a new stake in Vertical Aerospace in the first quarter valued at approximately $131,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Vertical Aerospace in the first quarter valued at approximately $102,000. 81.17% of the stock is currently owned by 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.