Barclays Begins Coverage on Vertical Aerospace (NYSE:EVTL)

Analysts at Barclays started coverage on shares of Vertical Aerospace (NYSE:EVTL) in a research report issued on Friday, MarketBeat reports. The firm set an “equal weight” rating and a $1.00 price target on the stock. Barclays‘s price target indicates a potential upside of 87.62% from the company’s previous close.

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Needham & Company LLC dropped their price objective on Vertical Aerospace to $5.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.12.

Vertical Aerospace Stock Down 2.1%

Shares of EVTL opened at $0.53 on Friday. The stock has a market capitalization of $73.76 million, a P/E ratio of -0.35 and a beta of 1.55. Vertical Aerospace has a twelve month low of $0.50 and a twelve month high of $7.33. The firm has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $1.69.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Sell-side analysts expect that Vertical Aerospace will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. lifted its position in Vertical Aerospace by 41.3% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock valued at $72,000 after acquiring an additional 9,500 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Vertical Aerospace by 351.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,773 shares of the company’s stock worth $73,000 after acquiring an additional 10,719 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Vertical Aerospace in the first quarter worth about $31,000. Cornerstone Capital Inc. purchased a new stake in Vertical Aerospace in the second quarter worth about $47,000. Finally, Bank of America Corp DE grew its holdings in Vertical Aerospace by 898.1% in the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock worth $168,000 after purchasing an additional 68,259 shares during the period. Institutional investors own 81.17% of the company’s stock.

About Vertical Aerospace

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban and regional air transportation. Its work focuses on creating aircraft that can operate with electric propulsion and produce no in-flight emissions, with the aim of supporting quieter and more sustainable passenger travel.

The company’s principal aircraft is the VX4, an eVTOL vehicle designed to carry a pilot and passengers. Vertical Aerospace is involved in the aircraft’s design, engineering, testing, certification and planned production, as well as the development of related operating and charging infrastructure.