1492 Capital Management LLC Takes Position in Vertical Aerospace Ltd. $EVTL

1492 Capital Management LLC bought a new position in Vertical Aerospace Ltd. (NYSE:EVTL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 250,642 shares of the company’s stock, valued at approximately $1,336,000.

Several other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in shares of Vertical Aerospace in the first quarter valued at approximately $102,000. Marshall Wace LLP grew its holdings in Vertical Aerospace by 398.9% during the second quarter. Marshall Wace LLP now owns 788,895 shares of the company’s stock worth $5,341,000 after buying an additional 630,778 shares in the last quarter. Jump Financial LLC purchased a new stake in Vertical Aerospace in the 2nd quarter valued at $91,000. Squarepoint Ops LLC lifted its stake in Vertical Aerospace by 429.6% during the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company’s stock valued at $948,000 after acquiring an additional 113,580 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Vertical Aerospace during the 2nd quarter valued at $102,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Stock Down 4.7%

Shares of NYSE:EVTL opened at $2.54 on Thursday. The company has a 50-day moving average price of $2.53 and a two-hundred day moving average price of $4.10. Vertical Aerospace Ltd. has a twelve month low of $1.90 and a twelve month high of $7.60. The firm has a market capitalization of $322.78 million, a PE ratio of -0.73 and a beta of 1.46.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.12. Analysts anticipate that Vertical Aerospace Ltd. will post -1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EVTL shares. Cantor Fitzgerald cut shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial cut shares of Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. D. Boral Capital restated a “buy” rating and issued a $12.00 target price on shares of Vertical Aerospace in a research note on Thursday, April 16th. Weiss Ratings lowered Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Finally, Canaccord Genuity Group lifted their price target on Vertical Aerospace from $9.50 to $10.50 and gave the stock a “buy” rating in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Vertical Aerospace currently has an average rating of “Hold” and an average target price of $11.30.

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.