Vertical Aerospace Ltd. (NYSE:EVTL) Receives $10.62 Consensus Target Price from Brokerages

Vertical Aerospace Ltd. (NYSE:EVTL) has received a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.6250.

EVTL has been the subject of a number of analyst reports. Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Needham & Company LLC lowered their price objective on Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Barclays raised shares of Vertical Aerospace to a “strong sell” rating in a research report on Wednesday, July 29th.

Vertical Aerospace Trading Down 2.5%

EVTL stock opened at $0.57 on Thursday. Vertical Aerospace has a 52 week low of $0.57 and a 52 week high of $7.33. The company has a market cap of $79.57 million, a P/E ratio of -0.38 and a beta of 1.48. The company’s 50-day moving average price is $1.16 and its 200 day moving average price is $2.21.

Vertical Aerospace (NYSE:EVTL) last posted its earnings results on Friday, August 14th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). On average, equities research analysts expect that Vertical Aerospace will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. lifted its holdings 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 acquiring an additional 7,691,459 shares in the last quarter. Millennium Management LLC grew its stake in shares of Vertical Aerospace by 293.4% in the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after buying an additional 1,333,312 shares in the last quarter. Kotler Kevin purchased a new stake in shares of Vertical Aerospace during the 4th quarter valued at about $5,009,000. Inherent Management Corp. lifted its position in Vertical Aerospace by 151.3% during 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 in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Vertical Aerospace by 81.1% during the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock valued at $7,413,000 after purchasing an additional 639,404 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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.