Vertical Aerospace (NYSE:EVTL) Trading 2.1% Higher – Still a Buy?

Vertical Aerospace Ltd. (NYSE:EVTL) shares traded up 2.1% during trading on Friday . The company traded as high as $4.30 and last traded at $4.23. 192,768 shares were traded during trading, a decline of 65% from the average session volume of 551,656 shares. The stock had previously closed at $4.14.

Analyst Ratings Changes

Several research firms have recently issued reports on EVTL. Canaccord Genuity Group reduced their price target on Vertical Aerospace from $16.00 to $13.50 and set a “buy” rating on the stock in a research report on Friday, January 24th. Barclays boosted their target price on Vertical Aerospace from $0.75 to $2.00 and gave the stock an “underweight” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vertical Aerospace from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Raymond James reiterated a “market perform” rating on shares of Vertical Aerospace in a report on Tuesday, November 26th. Finally, HC Wainwright began coverage on Vertical Aerospace in a report on Friday, February 7th. They issued a “buy” rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.13.

Vertical Aerospace Stock Performance

The firm’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $22.06.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Friday, December 20th. The company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.34) by ($0.58). On average, sell-side analysts anticipate that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVTL. Connective Capital Management LLC bought a new position in shares of Vertical Aerospace in the 4th quarter valued at about $189,000. Renaissance Technologies LLC acquired a new stake in shares of Vertical Aerospace in the fourth quarter valued at approximately $237,000. Bank of America Corp DE acquired a new stake in shares of Vertical Aerospace in the fourth quarter valued at approximately $264,000. Jane Street Group LLC acquired a new stake in shares of Vertical Aerospace in the fourth quarter valued at approximately $300,000. Finally, Marshall Wace LLP acquired a new stake in shares of Vertical Aerospace in the fourth quarter valued at approximately $630,000. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.