Vertical Aerospace (NYSE:EVTL) Stock Price Down 13.1% – Here’s Why

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James reaffirmed a “market perform” rating on shares of Vertical Aerospace in a research note on Tuesday, November 26th. Barclays raised their price objective on Vertical Aerospace from $0.75 to $2.00 and gave the company an “underweight” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Canaccord Genuity Group restated a “buy” rating and set a $16.00 price target on shares of Vertical Aerospace in a research report on Monday, December 23rd.

Vertical Aerospace Price Performance

The business has a 50-day moving average price of $7.91 and a 200 day moving average price of $40.69.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Friday, December 20th. The company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.58). On average, research analysts predict that Vertical Aerospace Ltd. will post -4.18 earnings per share for the current 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.