Vertical Aerospace (NYSE:EVTL) Sees Strong Trading Volume on Analyst Upgrade

Vertical Aerospace Ltd. (NYSE:EVTL) shares saw unusually-high trading volume on Tuesday after HC Wainwright raised their price target on the stock from $12.00 to $15.00. HC Wainwright currently has a buy rating on the stock. Approximately 434,433 shares were traded during trading, an increase of 85% from the previous session’s volume of 235,013 shares.The stock last traded at $5.96 and had previously closed at $6.20.

Separately, D. Boral Capital assumed coverage on shares of Vertical Aerospace in a report on Thursday, March 27th. They issued a “buy” rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.70.

Institutional Trading of Vertical Aerospace

Several hedge funds have recently added to or reduced their stakes in EVTL. Mudrick Capital Management L.P. raised its stake in Vertical Aerospace by 11,735.9% during the 4th quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company’s stock worth $595,582,000 after buying an additional 46,943,585 shares during the period. Renaissance Technologies LLC acquired a new stake in Vertical Aerospace during the 4th quarter worth $237,000. Marshall Wace LLP acquired a new stake in Vertical Aerospace during the 4th quarter worth $630,000. Jane Street Group LLC acquired a new stake in Vertical Aerospace during the 4th quarter worth $300,000. Finally, Bank of America Corp DE acquired a new stake in Vertical Aerospace during the 4th quarter worth $264,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Stock Down 6.7%

The company has a 50 day simple moving average of $4.40 and a 200-day simple moving average of $5.83.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Tuesday, May 13th. The company reported $4.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $4.84. Equities research analysts forecast that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

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.