D. Boral Capital Reiterates “Buy” Rating for Vertical Aerospace (NYSE:EVTL)

Vertical Aerospace (NYSE:EVTL)‘s stock had its “buy” rating reissued by D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $12.00 target price on the stock. D. Boral Capital’s target price suggests a potential upside of 313.08% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target (up from $9.00) on shares of Vertical Aerospace in a report on Monday, December 15th. Raymond James Financial lowered shares of Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Finally, William Blair started coverage on shares of Vertical Aerospace in a research report on Wednesday, January 7th. They set an “outperform” rating for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Vertical Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Vertical Aerospace Stock Performance

Shares of EVTL traded down $0.62 during trading hours on Tuesday, hitting $2.91. The stock had a trading volume of 2,202,456 shares, compared to its average volume of 1,210,327. The firm has a 50-day moving average price of $4.59 and a 200 day moving average price of $4.99. Vertical Aerospace has a fifty-two week low of $2.76 and a fifty-two week high of $7.60. The firm has a market capitalization of $289.88 million, a price-to-earnings ratio of -0.06 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). As a group, analysts predict that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new stake in shares of Vertical Aerospace in the first quarter valued at about $102,000. CreativeOne Wealth LLC purchased a new position in Vertical Aerospace during the second quarter worth about $91,000. Marshall Wace LLP boosted its holdings in Vertical Aerospace by 398.9% in the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company’s stock valued at $5,341,000 after purchasing an additional 630,778 shares during the last quarter. Jump Financial LLC acquired a new position in Vertical Aerospace in the 2nd quarter valued at about $91,000. Finally, Squarepoint Ops LLC grew its stake in shares of Vertical Aerospace by 429.6% in the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock valued at $948,000 after buying an additional 113,580 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.