Vertical Aerospace (NYSE:EVTL) Trading Up 8.6% - What's Next?

Key Points

• Vertical Aerospace's stock surged by 8.6% during mid-day trading, reaching a high of $5.69 and last trading at $5.85, despite a significant drop in trading volume.
• Analysts have mixed ratings for the stock, with six recommending a Buy, one a Hold, and one a Sell, leading to a consensus rating of "Moderate Buy" with a target price of $10.43.
• The company reported a loss of $2.35 per share in its most recent quarterly earnings, significantly missing analysts' expectations.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) shares were up 8.6% during mid-day trading on Thursday . The company traded as high as $5.69 and last traded at $5.85. Approximately 435,238 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 948,374 shares. The stock had previously closed at $5.39.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen cut Vertical Aerospace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Needham & Company LLC restated a "buy" rating and set a $9.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. D. Boral Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research note on Thursday, September 18th. Cantor Fitzgerald assumed coverage on shares of Vertical Aerospace in a research note on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Stock Up 6.5%

The stock has a market capitalization of $565.37 million, a price-to-earnings ratio of -0.11 and a beta of 1.25. The company's 50-day simple moving average is $5.36 and its 200 day simple moving average is $5.02.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($2.35) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($1.92). On average, equities analysts expect that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Trading of Vertical Aerospace

Several large investors have recently modified their holdings of EVTL. Bank of America Corp DE acquired a new position in Vertical Aerospace in the 4th quarter valued at $264,000. XTX Topco Ltd bought a new position in shares of Vertical Aerospace in the first quarter worth about $131,000. Inherent Management Corp. bought a new stake in Vertical Aerospace during the 1st quarter valued at approximately $1,109,000. Goldman Sachs Group Inc. acquired a new stake in Vertical Aerospace in the 1st quarter valued at approximately $102,000. Finally, Rathbones Group PLC bought a new position in Vertical Aerospace in the 2nd quarter worth approximately $356,000. 81.17% of the stock is 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.

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