Vertical Aerospace (NYSE:EVTL) Trading 2.1% Higher – Time to Buy?

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

Analysts Set New Price Targets

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

Vertical Aerospace Price Performance

The business’s 50-day moving average price is $7.38 and its two-hundred day moving average price is $22.06.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data 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). Analysts predict that Vertical Aerospace Ltd. will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVTL. Connective Capital Management LLC bought a new position in Vertical Aerospace in the fourth quarter valued at about $189,000. Renaissance Technologies LLC acquired a new position in Vertical Aerospace in the 4th quarter valued at approximately $237,000. Bank of America Corp DE acquired a new position in Vertical Aerospace in the 4th quarter valued at approximately $264,000. Jane Street Group LLC acquired a new position in Vertical Aerospace in the 4th quarter valued at approximately $300,000. Finally, Marshall Wace LLP acquired a new position in Vertical Aerospace in the 4th quarter valued at approximately $630,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

About Vertical Aerospace

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.