Vertical Aerospace (NYSE:EVTL) Stock Price Down 3.9% – Here’s Why

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) fell 3.9% during mid-day trading on Monday . The stock traded as low as $1.5850 and last traded at $1.5950. 1,750,171 shares were traded during trading, a decline of 6% from the average session volume of 1,871,338 shares. The stock had previously closed at $1.66.

Analysts Set New Price Targets

EVTL has been the topic of several research reports. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday, April 16th. Canaccord Genuity Group raised their price objective on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings cut shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Finally, Cantor Fitzgerald downgraded shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.30.

Vertical Aerospace Price Performance

The firm has a market cap of $203.09 million, a PE ratio of -0.46 and a beta of 1.52. The business has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $3.47.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.12. As a group, sell-side analysts forecast that Vertical Aerospace Ltd. will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. boosted its stake in shares of Vertical Aerospace by 25.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company’s stock valued at $77,000 after buying an additional 2,963 shares during the period. Barclays PLC increased its stake in shares of Vertical Aerospace by 156.0% in the fourth quarter. Barclays PLC now owns 6,843 shares of the company’s stock worth $36,000 after acquiring an additional 4,170 shares during the last quarter. EFG International AG acquired a new position in shares of Vertical Aerospace in the fourth quarter worth $27,000. LPL Financial LLC increased its stake in shares of Vertical Aerospace by 65.3% in the fourth quarter. LPL Financial LLC now owns 18,255 shares of the company’s stock worth $97,000 after acquiring an additional 7,209 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. raised its holdings in shares of Vertical Aerospace by 41.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock worth $72,000 after acquiring an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.