Vertical Aerospace Ltd. (NYSE:EVTL – Get Free Report) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 459,300 shares, a decrease of 19.1% from the July 15th total of 568,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 374,900 shares, the days-to-cover ratio is currently 1.2 days.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group began coverage on shares of Vertical Aerospace in a research report on Friday, June 9th. They set a “hold” rating and a $2.00 target price on the stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of Vertical Aerospace in the first quarter valued at approximately $198,000. Penserra Capital Management LLC grew its stake in Vertical Aerospace by 54.4% in the first quarter. Penserra Capital Management LLC now owns 10,358 shares of the company’s stock valued at $72,000 after acquiring an additional 3,651 shares during the period. UBS Group AG increased its stake in Vertical Aerospace by 1,048.3% during the 1st quarter. UBS Group AG now owns 32,325 shares of the company’s stock worth $225,000 after purchasing an additional 29,510 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Vertical Aerospace in the 1st quarter valued at about $910,000. Finally, Polar Capital Holdings Plc bought a new stake in Vertical Aerospace during the 1st quarter worth about $154,000. Institutional investors own 2.81% of the company’s stock.
Vertical Aerospace Stock Performance
Shares of EVTL stock opened at $1.54 on Monday. The stock’s fifty day simple moving average is $1.82 and its 200 day simple moving average is $1.86. Vertical Aerospace has a one year low of $1.41 and a one year high of $11.58. The company has a quick ratio of 6.67, a current ratio of 7.38 and a debt-to-equity ratio of 0.36.
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.