Vertical Aerospace (NYSE:EVTL) Stock Rating Raised to “Hold” at Barclays

Barclays upgraded shares of Vertical Aerospace (NYSE:EVTL) to a hold rating in a research report released on Friday morning,Zacks reports.

Several other research firms have also commented on EVTL. Needham & Company LLC dropped their target price on Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Vertical Aerospace in a report on Monday, July 27th. Finally, Weiss Ratings upgraded Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, September 2nd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Vertical Aerospace presently has a consensus rating of “Hold” and an average target price of $7.12.

Vertical Aerospace Price Performance

NYSE EVTL opened at $0.53 on Friday. Vertical Aerospace has a 1 year low of $0.50 and a 1 year high of $7.33. The company has a market capitalization of $73.76 million, a PE ratio of -0.35 and a beta of 1.55. The company has a fifty day moving average of $0.73 and a 200 day moving average of $1.69.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Research analysts expect that Vertical Aerospace will post -1.14 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in Vertical Aerospace in the 1st quarter valued at $31,000. Cornerstone Capital Inc. acquired a new stake in Vertical Aerospace during the 2nd quarter worth $47,000. J. Derek Lewis & Associates Inc. grew its holdings in shares of Vertical Aerospace by 41.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock worth $72,000 after buying an additional 9,500 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vertical Aerospace by 351.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,773 shares of the company’s stock worth $73,000 after buying an additional 10,719 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Vertical Aerospace by 898.1% in the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock valued at $168,000 after buying an additional 68,259 shares during the last quarter. 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.