Vertical Aerospace Ltd. (NYSE:EVTL) Receives $11.10 Average Price Target from Analysts

Vertical Aerospace Ltd. (NYSE:EVTL) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $11.10.

A number of research analysts have weighed in on EVTL shares. Canaccord Genuity Group decreased their price objective on shares of Vertical Aerospace from $16.00 to $13.50 and set a “buy” rating for the company in a research report on Friday, January 24th. D. Boral Capital started coverage on shares of Vertical Aerospace in a research note on Thursday, March 27th. They set a “buy” rating and a $15.00 price objective for the company. Finally, HC Wainwright initiated coverage on shares of Vertical Aerospace in a research note on Friday, February 7th. They set a “buy” rating and a $12.00 price objective for the company.

Vertical Aerospace Stock Up 3.9%

NYSE EVTL opened at $5.57 on Friday. The firm’s fifty day simple moving average is $3.90 and its two-hundred day simple moving average is $5.75. Vertical Aerospace has a 12-month low of $2.76 and a 12-month high of $15.99.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $4.84. On average, analysts predict that Vertical Aerospace will post -3.95 earnings per share for the current fiscal year.

Institutional Trading of Vertical Aerospace

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mudrick Capital Management L.P. grew its holdings in shares of Vertical Aerospace by 11,735.9% in the 4th quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company’s stock worth $595,582,000 after acquiring an additional 46,943,585 shares during the period. Inherent Management Corp. purchased a new stake in Vertical Aerospace in the 1st quarter valued at approximately $1,109,000. Marshall Wace LLP purchased a new position in shares of Vertical Aerospace during the 4th quarter worth $630,000. XTX Topco Ltd purchased a new position in shares of Vertical Aerospace during the 1st quarter worth $131,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Vertical Aerospace during the 1st quarter worth $102,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

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.