Vertical Aerospace Ltd. (NYSE:EVTL – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $2.12, but opened at $2.17. Vertical Aerospace shares last traded at $2.40, with a volume of 1,303,240 shares changing hands.

Analysts Set New Price Targets

EVTL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Vertical Aerospace from $8.00 to $5.00 in a research report on Wednesday, November 16th. Barclays dropped their price target on shares of Vertical Aerospace from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Tuesday, November 15th.

Vertical Aerospace Price Performance

The stock's 50-day simple moving average is $3.21 and its two-hundred day simple moving average is $5.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.01 and a quick ratio of 8.01.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC lifted its holdings in shares of Vertical Aerospace by 54.4% in the first quarter. Penserra Capital Management LLC now owns 10,358 shares of the company's stock worth $72,000 after buying an additional 3,651 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Vertical Aerospace in the first quarter worth $154,000. State Street Corp purchased a new stake in Vertical Aerospace during the third quarter valued at $246,000. Johnson & White Wealth Management LLC purchased a new stake in Vertical Aerospace during the fourth quarter valued at $1,251,000. Finally, JPMorgan Chase & Co. purchased a new stake in Vertical Aerospace during the first quarter valued at $198,000. Hedge funds and other institutional investors own 1.42% of the company's stock.

About Vertical Aerospace

(Get Rating)

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. It offers VX4, an eVTOL aircraft. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.

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