Vertical Aerospace (NYSE:EVTL) Trading Up 2.1% – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EVTL shares. HC Wainwright started coverage on Vertical Aerospace in a research report on Friday, February 7th. They issued a “buy” rating and a $12.00 target price on the stock. Barclays boosted their target price on Vertical Aerospace from $0.75 to $2.00 and gave the stock an “underweight” rating in a research report on Thursday, November 21st. Canaccord Genuity Group decreased their target price on Vertical Aerospace from $16.00 to $13.50 and set a “buy” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased 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. Finally, Raymond James reissued a “market perform” rating on shares of Vertical Aerospace in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.13.

Vertical Aerospace Stock Performance

The company has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $22.46.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVTL. Mudrick Capital Management L.P. grew its stake in shares of Vertical Aerospace by 11,735.9% during the fourth 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 during the last quarter. Marshall Wace LLP bought a new position in shares of Vertical Aerospace during the fourth quarter valued at approximately $630,000. Jane Street Group LLC bought a new position in shares of Vertical Aerospace during the fourth quarter valued at approximately $300,000. Bank of America Corp DE bought a new position in shares of Vertical Aerospace during the fourth quarter valued at approximately $264,000. Finally, Renaissance Technologies LLC bought a new position in shares of Vertical Aerospace during the fourth quarter valued at approximately $237,000. 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.