Vertical Aerospace Ltd. (NYSE:EVTL) Receives $10.62 Consensus Price Target from Brokerages

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have been given an average rating of “Hold” by the ten brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.6250.

A number of brokerages have recently issued reports on EVTL. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Barclays upgraded Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Needham & Company LLC lowered their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday.

Vertical Aerospace Trading Down 0.6%

EVTL stock opened at $0.60 on Thursday. Vertical Aerospace has a 12-month low of $0.57 and a 12-month high of $7.33. The stock has a market cap of $82.52 million, a price-to-earnings ratio of -0.39 and a beta of 1.48. The business’s 50-day moving average is $1.23 and its 200 day moving average is $2.30.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.02). As a group, equities analysts forecast that Vertical Aerospace will post -1.14 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. Saba Capital Management L.P. raised its holdings in Vertical Aerospace by 194.8% in the 1st quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock valued at $25,726,000 after acquiring an additional 7,691,459 shares during the last quarter. Masters Capital Management LLC lifted its stake in Vertical Aerospace by 13.3% in the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock worth $7,514,000 after purchasing an additional 400,000 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Vertical Aerospace by 33.5% during the 4th quarter. Millennium Management LLC now owns 2,385,917 shares of the company’s stock worth $12,717,000 after purchasing an additional 598,127 shares during the last quarter. Marshall Wace LLP grew its position in shares of Vertical Aerospace by 19.1% in the fourth quarter. Marshall Wace LLP now owns 1,701,501 shares of the company’s stock valued at $9,069,000 after purchasing an additional 273,202 shares in the last quarter. Finally, Inherent Management Corp. grew its position in shares of Vertical Aerospace by 151.3% in the fourth quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock valued at $7,099,000 after purchasing an additional 801,883 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.