Vertical Aerospace (NYSE:EVTL) Stock Price Down 7.6% – Time to Sell?

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) fell 7.6% during mid-day trading on Tuesday . The company traded as low as $6.14 and last traded at $6.1750. 1,631,946 shares changed hands during trading, a decline of 18% from the average session volume of 2,000,561 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

EVTL has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $11.00 price target (up previously from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Finally, William Blair initiated coverage on shares of Vertical Aerospace in a research report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Vertical Aerospace Stock Down 7.6%

The stock has a market cap of $616.20 million, a P/E ratio of -0.13 and a beta of 1.21. The company’s 50 day moving average price is $5.21 and its two-hundred day moving average price is $5.38.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, equities research analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

Institutional Investors Weigh In On Vertical Aerospace

Several large investors have recently modified their holdings of EVTL. Millennium Management LLC boosted its stake in shares of Vertical Aerospace by 293.4% during the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after purchasing an additional 1,333,312 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Vertical Aerospace by 81.1% during the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after purchasing an additional 639,404 shares during the last quarter. UBS Group AG boosted its position in Vertical Aerospace by 459.1% during the third quarter. UBS Group AG now owns 471,424 shares of the company’s stock valued at $2,447,000 after purchasing an additional 387,104 shares in the last quarter. Two Sigma Investments LP grew its stake in Vertical Aerospace by 56.1% in the third quarter. Two Sigma Investments LP now owns 231,967 shares of the company’s stock valued at $1,204,000 after purchasing an additional 83,404 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in Vertical Aerospace by 1,190.8% in the third quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after purchasing an additional 180,032 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom–based aerospace manufacturer specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company is publicly listed on the New York Stock Exchange under the ticker EVTL. Vertical Aerospace’s mission is to deliver zero-emission, high-speed electric aircraft designed to transform short-haul journeys in densely populated areas.

The company’s flagship model, the VA-X4, is a piloted, five-seat eVTOL craft engineered for quiet operation, low running costs and minimal environmental impact.