Vertical Aerospace Ltd. (NYSE:EVTL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.17.

Several equities research analysts have weighed in on the company. Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, September 2nd. Barclays upgraded shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a report on Monday, July 27th. Finally, Needham & Company LLC cut their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research report on Thursday, August 13th.

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors have recently bought and sold shares of EVTL. Caitong International Asset Management Co. Ltd increased its holdings in shares of Vertical Aerospace by 351.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,773 shares of the company’s stock valued at $73,000 after acquiring an additional 10,719 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Vertical Aerospace in the 1st quarter worth approximately $31,000. J. Derek Lewis & Associates Inc. acquired a new stake in Vertical Aerospace in the 4th quarter worth approximately $123,000. Cornerstone Capital Inc. bought a new stake in Vertical Aerospace during the second quarter worth approximately $47,000. Finally, Bank of America Corp DE boosted its position in Vertical Aerospace by 898.1% during the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock worth $168,000 after purchasing an additional 68,259 shares during the period. 81.17% of the stock is currently owned by institutional investors.

Vertical Aerospace Price Performance

Vertical Aerospace stock opened at $0.60 on Monday. Vertical Aerospace has a 12-month low of $0.52 and a 12-month high of $7.33. The company has a market capitalization of $83.03 million, a price-to-earnings ratio of -0.39 and a beta of 1.55. The firm’s fifty day moving average price is $0.81 and its 200 day moving average price is $1.79.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Analysts forecast that Vertical Aerospace will post -1.14 earnings per share for the current fiscal year.

About Vertical Aerospace

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for short-distance passenger and cargo transportation. The company’s aircraft are designed to combine the vertical takeoff and landing capabilities of a helicopter with the potential operating benefits of electric propulsion.

Vertical Aerospace’s primary aircraft program is the VX4, a piloted, battery-powered eVTOL aircraft intended for commercial air taxi and regional transportation applications.