Vertical Aerospace Ltd. (NYSE:EVTL) Receives $11.30 Consensus Target Price from Brokerages

Vertical Aerospace Ltd. (NYSE:EVTL) has received an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.30.

EVTL has been the topic of several research reports. Cantor Fitzgerald lowered shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Canaccord Genuity Group upped their price objective on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, D. Boral Capital restated a “buy” rating and issued a $12.00 target price on shares of Vertical Aerospace in a report on Thursday, April 16th.

Institutional Investors Weigh In On Vertical Aerospace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. raised its holdings in shares of Vertical Aerospace by 194.8% in the 1st quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock worth $25,726,000 after acquiring an additional 7,691,459 shares during the last quarter. Masters Capital Management LLC raised its holdings in shares of Vertical Aerospace by 13.3% in the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock worth $7,514,000 after acquiring an additional 400,000 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Vertical Aerospace by 33.5% in the 4th quarter. Millennium Management LLC now owns 2,385,917 shares of the company’s stock worth $12,717,000 after acquiring an additional 598,127 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Vertical Aerospace by 19.1% in the 4th quarter. Marshall Wace LLP now owns 1,701,501 shares of the company’s stock worth $9,069,000 after acquiring an additional 273,202 shares during the last quarter. Finally, Inherent Management Corp. raised its holdings in shares of Vertical Aerospace by 151.3% in the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock worth $7,099,000 after acquiring an additional 801,883 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Trading Down 6.7%

Shares of EVTL opened at $1.88 on Friday. The stock has a market capitalization of $239.89 million, a P/E ratio of -0.55 and a beta of 1.46. The firm’s fifty day simple moving average is $2.47 and its two-hundred day simple moving average is $3.85. Vertical Aerospace has a 12 month low of $1.85 and a 12 month high of $7.60.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.12. As a group, research analysts predict that Vertical Aerospace will post -1.34 EPS for the current fiscal year.

About Vertical Aerospace

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.