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

Vertical Aerospace Ltd. (NYSE:EVTL) shares dropped 13.1% on Monday . The stock 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EVTL. Deutsche Bank Aktiengesellschaft cut their price target on shares of Vertical Aerospace from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Raymond James reaffirmed a “market perform” rating on shares of Vertical Aerospace in a research report on Tuesday, November 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Vertical Aerospace in a research note on Monday, December 23rd. Finally, 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.

Vertical Aerospace Price Performance

The company’s 50 day moving average is $7.91 and its 200 day moving average is $40.69.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data on Friday, December 20th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.58). Research analysts anticipate that Vertical Aerospace Ltd. will post -4.18 EPS for the current fiscal 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.