Vertical Aerospace Target of Unusually High Options Trading (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) saw unusually large options trading activity on Wednesday. Investors bought 21,607 call options on the stock. This is an increase of approximately 1,910% compared to the typical volume of 1,075 call options.

Vertical Aerospace Trading Up 4.3%

Shares of NYSE:EVTL opened at $6.50 on Friday. Vertical Aerospace has a 1-year low of $2.76 and a 1-year high of $10.65. The stock has a market cap of $648.14 million, a PE ratio of -0.13 and a beta of 1.21. The stock’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $5.37.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 price objective on shares of Vertical Aerospace in a research report on Monday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price target on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a report on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Hedge Funds Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in 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 buying an additional 1,333,312 shares during the period. Marshall Wace LLP boosted its stake in Vertical Aerospace by 81.1% in the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock valued at $7,413,000 after acquiring an additional 639,404 shares during the last quarter. UBS Group AG grew its position in shares of Vertical Aerospace by 459.1% during the 3rd quarter. UBS Group AG now owns 471,424 shares of the company’s stock valued at $2,447,000 after acquiring an additional 387,104 shares during the period. Verition Fund Management LLC grew its position in shares of Vertical Aerospace by 1,190.8% during the 3rd quarter. Verition Fund Management LLC now owns 195,151 shares of the company’s stock valued at $1,013,000 after acquiring an additional 180,032 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Vertical Aerospace by 420.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 166,535 shares of the company’s stock worth $864,000 after purchasing an additional 134,551 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

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.