Stock Traders Buy Large Volume of Put Options on Vertical Aerospace (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) saw some unusual options trading activity on Monday. Stock traders purchased 10,371 put options on the company. This represents an increase of 406% compared to the typical daily volume of 2,050 put options.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVTL. Balyasny Asset Management L.P. increased its holdings in Vertical Aerospace by 25.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company’s stock worth $77,000 after buying an additional 2,963 shares during the last quarter. Barclays PLC lifted its stake in Vertical Aerospace by 156.0% in the fourth quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after acquiring an additional 4,170 shares during the last quarter. EFG International AG acquired a new stake in Vertical Aerospace in the fourth quarter valued at $27,000. LPL Financial LLC grew its position in shares of Vertical Aerospace by 65.3% in the 4th quarter. LPL Financial LLC now owns 18,255 shares of the company’s stock valued at $97,000 after acquiring an additional 7,209 shares during the period. Finally, J. Derek Lewis & Associates Inc. grew its position in shares of Vertical Aerospace by 41.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock valued at $72,000 after acquiring an additional 9,500 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald cut shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Canaccord Genuity Group boosted their target price on Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research note on Monday, April 20th. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Finally, Barclays upgraded shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.30.

Vertical Aerospace Trading Down 32.0%

Shares of Vertical Aerospace stock traded down $0.43 during trading hours on Monday, reaching $0.93. 17,464,358 shares of the company’s stock were exchanged, compared to its average volume of 2,511,382. The stock has a market cap of $117.78 million, a P/E ratio of -0.27 and a beta of 1.54. The company has a 50 day moving average of $1.80 and a two-hundred day moving average of $2.87. Vertical Aerospace has a fifty-two week low of $0.79 and a fifty-two week high of $7.33.

About Vertical Aerospace

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.