Vertical Aerospace (NYSE:EVTL) Trading Up 6.3% - Still a Buy?

Key Points

• Vertical Aerospace's share price rose by 6.3% to $5.17 despite a significant decline in trading volume.
• Analysts have mixed ratings for Vertical Aerospace, with six giving a "Buy" rating and a consensus price target of $10.43, while one analyst downgraded it to "Sell."
• The company reported a significant earnings miss, with an EPS of ($2.35), which was notably below the consensus estimate of (\$0.43).

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares shot up 6.3% on Thursday . The stock traded as high as $5.09 and last traded at $5.17. 80,063 shares were traded during trading, a decline of 91% from the average session volume of 848,550 shares. The stock had previously closed at $4.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EVTL shares. Needham & Company LLC started coverage on shares of Vertical Aerospace in a report on Thursday, July 17th. They issued a "buy" rating and a $9.00 price target for the company. Cantor Fitzgerald started coverage on shares of Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price target for the company. Wall Street Zen cut shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Canaccord Genuity Group reduced their price target on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a report on Monday, July 14th. Finally, D. Boral Capital restated a "buy" rating and issued a $15.00 price target on shares of Vertical Aerospace in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Stock Down 9.7%

The firm has a market cap of $478.86 million, a P/E ratio of -0.10 and a beta of 1.24. The firm's 50-day simple moving average is $5.45 and its 200 day simple moving average is $4.89.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($1.92). As a group, analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inherent Management Corp. purchased a new position in Vertical Aerospace in the 1st quarter worth approximately $1,109,000. Jane Street Group LLC purchased a new stake in shares of Vertical Aerospace in the 4th quarter worth about $300,000. Bank of America Corp DE purchased a new stake in Vertical Aerospace during the 4th quarter valued at about $264,000. Connective Capital Management LLC bought a new position in Vertical Aerospace during the 4th quarter valued at about $189,000. Finally, XTX Topco Ltd bought a new position in shares of Vertical Aerospace in the 1st quarter worth approximately $131,000. Hedge funds and other 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.