Vertical Aerospace (NYSE:EVTL) Stock Price Up 2.1% - Time to Buy?

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report)'s stock price rose 2.1% during mid-day trading on Friday . The company traded as high as $4.30 and last traded at $4.23. Approximately 192,768 shares changed hands during trading, a decline of 65% from the average daily volume of 551,656 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVTL. Canaccord Genuity Group lowered their price objective on shares of Vertical Aerospace from $16.00 to $13.50 and set a "buy" rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their target price on Vertical Aerospace from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, December 3rd. HC Wainwright initiated coverage on Vertical Aerospace in a report on Friday, February 7th. They set a "buy" rating and a $12.00 price target for the company. Raymond James restated a "market perform" rating on shares of Vertical Aerospace in a report on Tuesday, November 26th. Finally, Barclays raised their price target on shares of Vertical Aerospace from $0.75 to $2.00 and gave the company an "underweight" rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Vertical Aerospace has an average rating of "Hold" and an average price target of $10.13.

Vertical Aerospace Trading Up 6.9 %

The business has a 50-day simple moving average of $7.21 and a 200-day simple moving average of $20.50.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its quarterly earnings data on Friday, December 20th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.34) by ($0.58). On average, equities analysts forecast that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors have recently made changes to their positions in EVTL. Connective Capital Management LLC acquired a new stake in Vertical Aerospace in the 4th quarter valued at approximately $189,000. Renaissance Technologies LLC acquired a new stake in shares of Vertical Aerospace in the fourth quarter worth $237,000. Bank of America Corp DE acquired a new stake in shares of Vertical Aerospace in the fourth quarter worth $264,000. Jane Street Group LLC bought a new position in Vertical Aerospace during the fourth quarter worth $300,000. Finally, Marshall Wace LLP acquired a new position in Vertical Aerospace during the 4th quarter valued at $630,000. 81.17% of the stock is currently owned by institutional investors.

About Vertical Aerospace

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.