HC Wainwright Reiterates Buy Rating for Vertical Aerospace (NYSE:EVTL)

Vertical Aerospace (NYSE:EVTL)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $15.00 target price on the stock, up from their prior target price of $12.00. HC Wainwright’s price objective indicates a potential upside of 159.29% from the company’s previous close.

Separately, D. Boral Capital initiated coverage on Vertical Aerospace in a research report on Thursday, March 27th. They issued a “buy” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.70.

Vertical Aerospace Price Performance

EVTL stock opened at $5.79 on Monday. Vertical Aerospace has a twelve month low of $2.76 and a twelve month high of $15.99. The business’s 50-day simple moving average is $4.40 and its 200 day simple moving average is $5.83.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $4.84. As a group, equities research analysts expect that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in Vertical Aerospace in the first quarter worth about $102,000. XTX Topco Ltd acquired a new position in Vertical Aerospace in the first quarter worth about $131,000. Connective Capital Management LLC acquired a new position in Vertical Aerospace in the fourth quarter worth about $189,000. Renaissance Technologies LLC acquired a new position in Vertical Aerospace in the fourth quarter worth about $237,000. Finally, Bank of America Corp DE acquired a new position in Vertical Aerospace in the fourth quarter worth about $264,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.