Inherent Management Corp. Invests $1.11 Million in Vertical Aerospace Ltd. $EVTL

Inherent Management Corp. purchased a new stake in Vertical Aerospace Ltd. (NYSE:EVTL) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 330,000 shares of the company’s stock, valued at approximately $1,109,000. Vertical Aerospace accounts for approximately 0.9% of Inherent Management Corp.’s holdings, making the stock its 8th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in Vertical Aerospace during the fourth quarter worth approximately $630,000. XTX Topco Ltd purchased a new position in shares of Vertical Aerospace in the 1st quarter valued at $131,000. Jane Street Group LLC acquired a new stake in Vertical Aerospace during the 4th quarter worth $300,000. Bank of America Corp DE purchased a new stake in Vertical Aerospace in the fourth quarter valued at $264,000. Finally, Renaissance Technologies LLC acquired a new position in Vertical Aerospace in the fourth quarter valued at $237,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on EVTL. Canaccord Genuity Group reduced their target price on shares of Vertical Aerospace from $13.50 to $11.00 and set a “buy” rating for the company in a report on Monday, July 14th. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Vertical Aerospace in a research note on Tuesday, July 22nd. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective (up from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Needham & Company LLC began coverage on Vertical Aerospace in a report on Thursday, July 17th. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Wall Street Zen cut Vertical Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.83.

Vertical Aerospace Price Performance

Shares of NYSE:EVTL opened at $4.5850 on Thursday. The firm has a market capitalization of $443.28 million, a price-to-earnings ratio of -0.09 and a beta of 1.25. The business’s 50 day simple moving average is $5.88 and its 200-day simple moving average is $4.89. Vertical Aerospace Ltd. has a 12 month low of $2.76 and a 12 month high of $15.99.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($0.43) by ($1.92). On average, equities analysts anticipate that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current year.

About Vertical Aerospace

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.