Vertical Aerospace’s (EVTL) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Vertical Aerospace (NYSE:EVTL) in a report released on Monday,Benzinga reports. They currently have a $11.00 price target on the stock.

A number of other research analysts also recently weighed in on EVTL. Cantor Fitzgerald started coverage on Vertical Aerospace in a research note on Friday, August 22nd. They set an “overweight” rating and a $8.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Vertical Aerospace in a research note on Thursday, September 18th. Finally, Wall Street Zen downgraded Vertical Aerospace from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vertical Aerospace presently has an average rating of “Moderate Buy” and an average price target of $10.43.

Vertical Aerospace Price Performance

Shares of NYSE:EVTL opened at $5.84 on Monday. The business’s 50-day moving average is $5.49 and its 200-day moving average is $4.95. Vertical Aerospace has a 1 year low of $2.76 and a 1 year high of $15.99. The company has a market capitalization of $574.92 million, a price-to-earnings ratio of -0.12 and a beta of 1.24.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($1.92). Analysts anticipate that Vertical Aerospace will post -3.95 EPS for the current year.

Institutional Trading of Vertical Aerospace

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of Vertical Aerospace by 398.9% in the second quarter. Marshall Wace LLP now owns 788,895 shares of the company’s stock valued at $5,341,000 after acquiring an additional 630,778 shares in the last quarter. Inherent Management Corp. bought a new position in shares of Vertical Aerospace in the first quarter valued at approximately $1,109,000. Jane Street Group LLC bought a new position in shares of Vertical Aerospace in the second quarter valued at approximately $833,000. Squarepoint Ops LLC grew its holdings in shares of Vertical Aerospace by 429.6% in the second 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, Rathbones Group PLC bought a new position in shares of Vertical Aerospace in the second quarter valued at approximately $356,000. 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.