Vertical Aerospace (NYSE:EVTL) Issues Earnings Results

Vertical Aerospace (NYSE:EVTL) posted its quarterly earnings data on Tuesday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01), FiscalAI reports.

Vertical Aerospace Trading Down 1.3%

Shares of Vertical Aerospace stock opened at $3.55 on Tuesday. The firm has a market capitalization of $353.76 million, a PE ratio of -0.07 and a beta of 1.23. The firm’s 50 day moving average is $4.59 and its 200 day moving average is $4.99. Vertical Aerospace has a 1 year low of $2.76 and a 1 year high of $7.60.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price (up from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Raymond James Financial downgraded Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. William Blair assumed coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They set an “outperform” rating on the stock. Finally, D. Boral Capital reissued a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a report on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Institutional Trading of Vertical Aerospace

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in shares of Vertical Aerospace by 33.5% during the fourth quarter. Millennium Management LLC now owns 2,385,917 shares of the company’s stock worth $12,717,000 after buying an additional 598,127 shares in the last quarter. Marshall Wace LLP lifted its stake 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 valued at $9,069,000 after acquiring an additional 273,202 shares during the last quarter. Inherent Management Corp. boosted its holdings in shares of Vertical Aerospace by 151.3% during the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock valued at $7,099,000 after acquiring an additional 801,883 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Vertical Aerospace by 152.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,010,101 shares of the company’s stock worth $5,384,000 after acquiring an additional 610,101 shares during the last quarter. Finally, Kotler Kevin bought a new stake in Vertical Aerospace during the 4th quarter worth $5,009,000. Institutional investors own 81.17% of the company’s stock.

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.