Brokerages Set Vertical Aerospace Ltd. (NYSE:EVTL) PT at $10.62

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $10.6250.

Several research firms have commented on EVTL. Barclays raised Vertical Aerospace to a “strong sell” rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Vertical Aerospace in a report on Monday, July 27th. Needham & Company LLC cut their price target on Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, September 2nd.

Institutional Trading of Vertical Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Inc. acquired a new position in Vertical Aerospace during the second quarter worth $47,000. J. Derek Lewis & Associates Inc. grew its holdings in Vertical Aerospace by 41.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock valued at $72,000 after purchasing an additional 9,500 shares during the last quarter. Bank of America Corp DE increased its position in shares of Vertical Aerospace by 898.1% in the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock valued at $168,000 after buying an additional 68,259 shares in the last quarter. Saba Capital Management L.P. increased its position in shares of Vertical Aerospace by 194.8% in the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock valued at $25,726,000 after buying an additional 7,691,459 shares in the last quarter. Finally, Masters Capital Management LLC raised its stake in shares of Vertical Aerospace by 13.3% during the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock worth $7,514,000 after buying an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Price Performance

Vertical Aerospace stock opened at $0.60 on Thursday. Vertical Aerospace has a 1-year low of $0.57 and a 1-year high of $7.33. The stock has a market cap of $82.52 million, a PE ratio of -0.39 and a beta of 1.48. The stock’s fifty day moving average is $1.21 and its two-hundred day moving average is $2.26.

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

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom–based aerospace manufacturer specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company is publicly listed on the New York Stock Exchange under the ticker EVTL. Vertical Aerospace’s mission is to deliver zero-emission, high-speed electric aircraft designed to transform short-haul journeys in densely populated areas.

The company’s flagship model, the VA-X4, is a piloted, five-seat eVTOL craft engineered for quiet operation, low running costs and minimal environmental impact.