Vertical Aerospace (NYSE:EVTL) Posts Earnings Results, Meets Expectations

Vertical Aerospace (NYSE:EVTL) posted its quarterly earnings results on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.42), FiscalAI reports.

Here are the key takeaways from Vertical Aerospace’s conference call:

• Flight-testing advanced significantly: Vertical completed piloted transition flights with two full-scale prototypes and demonstrated five consecutive eVTOL flights at Farnborough in changing weather and public airspace.
• The company is expanding the VX4/Valo ecosystem through partnerships covering autonomy and defense with Near Earth Autonomy, high-power charging through the government-supported ECLiPSE program, and European airspace integration through VERTI-GO.
• Vertical said U.K. government support could reach approximately $100 million, including a potential additional $30.5 million grant, while a proposed U.K. Export Finance framework may support future customer and export financing.
• Vertical moved its expected type-certification timeline from 2028 to 2029, citing a delay in transition testing that kept engineering resources focused on the flight-test program; management still estimates approximately $700 million in additional cash needs.
• The company expects about $150 million of net operating cash outflows over the next 12 months and recently raised or accessed roughly $100 million through equity, convertible notes, and preferred equity, extending its projected cash runway only through around the end of the third quarter of 2027.

Vertical Aerospace Stock Up 0.4%

EVTL stock traded up $0.00 during mid-day trading on Friday, reaching $0.84. The company had a trading volume of 3,711,330 shares, compared to its average volume of 3,265,710. Vertical Aerospace has a one year low of $0.77 and a one year high of $7.33. The stock has a market capitalization of $107.08 million, a P/E ratio of -0.24 and a beta of 1.54. The stock’s 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $2.73.

Institutional Trading of Vertical Aerospace

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in Vertical Aerospace in the 1st quarter valued at about $102,000. Marshall Wace LLP grew its position in Vertical Aerospace by 398.9% in the 2nd quarter. Marshall Wace LLP now owns 788,895 shares of the company’s stock worth $5,341,000 after purchasing an additional 630,778 shares during the last quarter. Jump Financial LLC bought a new position in Vertical Aerospace in the 2nd quarter worth about $91,000. Squarepoint Ops LLC increased its stake in shares of Vertical Aerospace by 429.6% in the second quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock valued at $948,000 after purchasing an additional 113,580 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Vertical Aerospace in the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EVTL. Cantor Fitzgerald lowered shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Canaccord Genuity Group raised their price target on shares of Vertical Aerospace from $9.50 to $10.50 and gave the stock a “buy” rating in a research report on Monday, April 20th. Weiss Ratings lowered shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Finally, Barclays upgraded shares of Vertical Aerospace to a “strong sell” rating in a research note on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.10.

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.