Vertical Aerospace Ltd. (NYSE:EVTL) Receives Consensus Rating of “Hold” from Brokerages

Vertical Aerospace Ltd. (NYSE:EVTL) has received an average rating of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.30.

A number of brokerages have recently commented on EVTL. Raymond James Financial cut Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. Cantor Fitzgerald cut Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Canaccord Genuity Group upped their price target on Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research report on Monday, April 20th. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday, April 16th. Finally, Weiss Ratings cut Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd.

Vertical Aerospace Price Performance

Shares of NYSE EVTL opened at $2.16 on Friday. Vertical Aerospace has a one year low of $1.90 and a one year high of $7.60. The business’s fifty day moving average price is $2.50 and its 200-day moving average price is $3.93. The stock has a market capitalization of $274.40 million, a PE ratio of -0.62 and a beta of 1.46.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.12. As a group, equities analysts expect that Vertical Aerospace will post -1.34 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in EVTL. Saba Capital Management L.P. raised its stake in shares of Vertical Aerospace by 194.8% during 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 purchasing an additional 7,691,459 shares during the period. Millennium Management LLC increased 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 acquiring an additional 1,333,312 shares during the last quarter. Kotler Kevin bought a new position in Vertical Aerospace in the 4th quarter worth about $5,009,000. Inherent Management Corp. increased its stake in Vertical Aerospace by 151.3% in 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. Finally, Marshall Wace LLP increased its stake in Vertical Aerospace by 81.1% in 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. 81.17% of the stock is currently owned by institutional investors.

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.