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

Vertical Aerospace (NYSE:EVTL)‘s stock had its “buy” rating restated by D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $12.00 target price on the stock. D. Boral Capital’s price objective points to a potential upside of 434.52% from the company’s previous close.

Several other brokerages have also recently commented on EVTL. William Blair initiated coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Canaccord Genuity Group cut their price target on shares of Vertical Aerospace from $11.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, March 26th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target (up from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Finally, Raymond James Financial downgraded Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.10.

Vertical Aerospace Stock Performance

Shares of EVTL opened at $2.25 on Tuesday. Vertical Aerospace has a 52-week low of $1.90 and a 52-week high of $7.60. The stock’s 50-day simple moving average is $4.08 and its 200 day simple moving average is $4.86. The stock has a market capitalization of $229.73 million, a price-to-earnings ratio of -0.73 and a beta of 1.46.

Vertical Aerospace (NYSE:EVTL) last posted its earnings results on Wednesday, March 25th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). On average, research analysts forecast that Vertical Aerospace will post -3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in Vertical Aerospace by 293.4% in the 3rd quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock worth $9,279,000 after buying an additional 1,333,312 shares in the last quarter. Kotler Kevin purchased a new stake in shares of Vertical Aerospace during the 4th quarter valued at $5,009,000. Inherent Management Corp. lifted its holdings in shares of Vertical Aerospace by 151.3% during the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock worth $7,099,000 after acquiring an additional 801,883 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Vertical Aerospace by 81.1% during the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after acquiring an additional 639,404 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Vertical Aerospace by 152.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,010,101 shares of the company’s stock worth $5,384,000 after acquiring an additional 610,101 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

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.