Traders Purchase Large Volume of Vertical Aerospace Call Options (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) saw some unusual options trading activity on Tuesday. Stock investors bought 5,217 call options on the stock. This represents an increase of 161% compared to the typical daily volume of 1,999 call options.

Vertical Aerospace Price Performance

Shares of EVTL stock traded down $0.11 during mid-day trading on Tuesday, hitting $2.21. The stock had a trading volume of 2,226,074 shares, compared to its average volume of 1,795,066. Vertical Aerospace has a 12-month low of $1.90 and a 12-month high of $7.60. The firm’s 50-day moving average is $3.88 and its two-hundred day moving average is $4.80. The firm has a market capitalization of $225.64 million, a P/E ratio of -0.72 and a beta of 1.46.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Analysts expect that Vertical Aerospace will post -3.95 EPS for the current year.

Institutional Investors Weigh In On Vertical Aerospace

Several large investors have recently modified their holdings of the business. EFG International AG purchased a new stake in shares of Vertical Aerospace in the 4th quarter worth approximately $27,000. Barclays PLC increased its holdings in Vertical Aerospace by 156.0% during the fourth quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after buying an additional 4,170 shares during the period. Jones Financial Companies Lllp increased its holdings in Vertical Aerospace by 144.3% during the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after buying an additional 4,850 shares during the period. Quarry LP bought a new position in Vertical Aerospace in the third quarter worth approximately $49,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Vertical Aerospace during the third quarter worth $52,000. Institutional investors own 81.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target (up from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Raymond James Financial downgraded shares of Vertical Aerospace from a “market perform” rating to an “underperform” rating in a report on Monday, February 23rd. William Blair initiated coverage on shares of Vertical Aerospace in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. D. Boral Capital restated a “buy” rating and issued a $12.00 target price on shares of Vertical Aerospace in a research note on Tuesday, March 31st. Finally, Canaccord Genuity Group reduced their target price on shares of Vertical Aerospace from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.10.

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.