Vertical Aerospace Ltd. (NYSE:EVTL) Sees Significant Growth in Short Interest

Vertical Aerospace Ltd. (NYSE:EVTL – Get Rating) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 646,600 shares, a growth of 7.0% from the February 13th total of 604,500 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 453,600 shares, the days-to-cover ratio is currently 1.4 days.

Vertical Aerospace Stock Up 0.7 %

Shares of EVTL opened at $1.48 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.01 and a quick ratio of 8.01. Vertical Aerospace has a 1-year low of $1.41 and a 1-year high of $11.95. The firm has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $4.25.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds have recently bought and sold shares of EVTL. Penserra Capital Management LLC lifted its position 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 valued at $72,000 after acquiring an additional 3,651 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Vertical Aerospace in the 4th quarter valued at about $37,000. Handelsbanken Fonder AB acquired a new stake in shares of Vertical Aerospace during the 4th quarter worth about $67,000. HRT Financial LP acquired a new stake in shares of Vertical Aerospace during the 4th quarter worth about $73,000. Finally, Polar Capital Holdings Plc purchased a new stake in shares of Vertical Aerospace during the first quarter worth about $154,000. Hedge funds and other institutional investors own 1.42% of the company’s stock.

About Vertical Aerospace

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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.