Vertical Aerospace (NYSE:EVTL) Shares Down 13.1% – Time to Sell?

Vertical Aerospace Ltd. (NYSE:EVTL) shares were down 13.1% during mid-day trading on Monday . The company traded as low as $7.76 and last traded at $7.87. Approximately 218,203 shares changed hands during trading, a decline of 39% from the average daily volume of 359,570 shares. The stock had previously closed at $9.06.

Wall Street Analyst Weigh In

Several research firms have recently commented on EVTL. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Vertical Aerospace in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Vertical Aerospace from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Raymond James restated a “market perform” rating on shares of Vertical Aerospace in a research note on Tuesday, November 26th. Finally, Barclays lifted their price target on Vertical Aerospace from $0.75 to $2.00 and gave the company an “underweight” rating in a research report on Thursday, November 21st.

Vertical Aerospace Price Performance

The business’s fifty day simple moving average is $7.98 and its two-hundred day simple moving average is $40.22.

Vertical Aerospace (NYSE:EVTL) last announced 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). As a group, equities research analysts expect that Vertical Aerospace Ltd. will post -4.18 EPS for the current fiscal year.

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.