Brokerages Set Vertical Aerospace Ltd. (NYSE:EVTL) Target Price at $11.30

Vertical Aerospace Ltd. (NYSE:EVTL) has received a consensus rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two 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 1-year target price among brokerages that have issued a report on the stock in the last year is $11.30.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald cut shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings lowered Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Canaccord Genuity Group boosted their price objective on Vertical Aerospace from $9.50 to $10.50 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, D. Boral Capital restated a “buy” rating and set a $12.00 target price on shares of Vertical Aerospace in a research note on Thursday, April 16th.

Vertical Aerospace Trading Up 2.8%

NYSE EVTL opened at $1.65 on Wednesday. The company has a fifty day simple moving average of $2.12 and a 200 day simple moving average of $3.31. The company has a market cap of $209.46 million, a P/E ratio of -0.48 and a beta of 1.52. Vertical Aerospace has a 1 year low of $1.37 and a 1 year high of $7.33.

Vertical Aerospace (NYSE:EVTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.12. Equities research analysts forecast that Vertical Aerospace will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVTL. Saba Capital Management L.P. grew its stake in shares of Vertical Aerospace by 194.8% in the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock worth $25,726,000 after acquiring an additional 7,691,459 shares during the last quarter. Millennium Management LLC raised its stake in Vertical Aerospace by 293.4% during the 3rd quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after purchasing an additional 1,333,312 shares during the last quarter. Kotler Kevin acquired a new position in Vertical Aerospace during the 4th quarter valued at $5,009,000. Inherent Management Corp. boosted its holdings in Vertical Aerospace by 151.3% in the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock valued at $7,099,000 after purchasing an additional 801,883 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Vertical Aerospace by 81.1% in the 3rd 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. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.