Vertical Aerospace (NYSE:EVTL) Shares Down 3.4% – Should You Sell?

Vertical Aerospace Ltd. (NYSE:EVTL)’s share price dropped 3.4% on Thursday . The company traded as low as $4.78 and last traded at $4.9150. Approximately 1,799,861 shares changed hands during trading, an increase of 3% from the average daily volume of 1,743,621 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

EVTL has been the subject of a number of recent research reports. William Blair assumed coverage on Vertical Aerospace in a report on Wednesday, January 7th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective (up from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $14.00 price target on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.80.

Vertical Aerospace Stock Down 3.9%

The business’s fifty day simple moving average is $5.62 and its two-hundred day simple moving average is $5.34. The company has a market cap of $471.99 million, a price-to-earnings ratio of -0.10 and a beta of 1.21.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Tuesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Sell-side analysts predict that Vertical Aerospace Ltd. will post -3.95 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its position in Vertical Aerospace by 120.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock worth $26,000 after buying an additional 2,066 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Vertical Aerospace by 144.3% in the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after acquiring an additional 4,850 shares during the period. Quarry LP purchased a new position in shares of Vertical Aerospace during the third quarter worth approximately $49,000. Oppenheimer & Co. Inc. acquired a new position in shares of Vertical Aerospace in the 3rd quarter valued at $52,000. Finally, Virtu Financial LLC acquired a new position in shares of Vertical Aerospace in the 3rd quarter valued at $53,000. 81.17% of the stock is owned by institutional investors and hedge funds.

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.