Vertical Aerospace Ltd. (NYSE:EVTL) Short Interest Update

Vertical Aerospace Ltd. (NYSE:EVTL) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 331,900 shares, a growth of 12.4% from the August 15th total of 295,400 shares. Based on an average trading volume of 224,400 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.6% of the company’s shares are short sold.

Vertical Aerospace Price Performance

Shares of NYSE:EVTL opened at $0.81 on Wednesday. The business has a 50-day moving average price of $0.86 and a 200 day moving average price of $0.81. Vertical Aerospace has a 12-month low of $0.51 and a 12-month high of $1.62.

Vertical Aerospace’s stock is set to reverse split on the morning of Monday, September 23rd. The 1-10 reverse split was announced on Monday, September 16th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 20th.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EVTL. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1.50 target price on shares of Vertical Aerospace in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised Vertical Aerospace from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1.00 to $1.50 in a research report on Tuesday, July 23rd.

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. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.