Vertical Aerospace (NYSE:EVTL) Stock Rating Upgraded by Barclays

Vertical Aerospace (NYSE:EVTL) was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a $1.00 target price on the stock, down from their previous target price of $2.00. Barclays‘s price objective indicates a potential upside of 140.38% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, September 2nd. Needham & Company LLC cut their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.12.

Vertical Aerospace Price Performance

Shares of EVTL traded down $0.07 during midday trading on Friday, reaching $0.42. 8,238,172 shares of the stock were exchanged, compared to its average volume of 3,772,750. Vertical Aerospace has a twelve month low of $0.41 and a twelve month high of $7.33. The company has a market capitalization of $57.57 million, a price-to-earnings ratio of -0.27 and a beta of 1.55. The business’s 50-day moving average price is $0.72 and its 200 day moving average price is $1.66.

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

Institutional Trading of Vertical Aerospace

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Vertical Aerospace by 351.0% in the 4th 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 during the period. Bessemer Group Inc. purchased a new stake in shares of Vertical Aerospace in the first quarter valued at about $31,000. J. Derek Lewis & Associates Inc. acquired a new position in shares of Vertical Aerospace during the fourth quarter worth about $123,000. Cornerstone Capital Inc. acquired a new position in shares of Vertical Aerospace during the second quarter worth about $47,000. Finally, Bank of America Corp DE increased its stake in shares of Vertical Aerospace by 898.1% during the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock worth $168,000 after acquiring an additional 68,259 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

Vertical Aerospace Company Profile

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.