Vertical Aerospace Ltd. (NYSE:EVTL) Sees Large Increase in Short Interest

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 331,900 shares, an increase 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. Currently, 0.6% of the shares of the stock are short sold.

Vertical Aerospace Stock Performance

Shares of EVTL stock traded up $0.03 during mid-day trading on Monday, reaching $0.91. 387,728 shares of the stock traded hands, compared to its average volume of 310,417. The stock's fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $0.81. Vertical Aerospace has a 1-year low of $0.51 and a 1-year high of $1.62.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Vertical Aerospace from a "hold" rating to a "buy" rating and raised their price target for the company from $1.00 to $1.50 in a research note on Tuesday, July 23rd. Canaccord Genuity Group restated a "buy" rating and issued a $1.50 target price on shares of Vertical Aerospace in a research report on Friday.

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