Vertical Aerospace Ltd. (EVTL) – What Are Researchers Thinking About This Stock?

Vertical Aerospace Ltd. (NYSE:EVTL) has received an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.12.

EVTL has been the subject of several analyst reports. Barclays raised shares of Vertical Aerospace from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $2.00 to $1.00 in a research report on Friday, October 9th. Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Finally, Needham & Company LLC cut their target price on Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th.

Vertical Aerospace Trading Up 11.5%

Vertical Aerospace stock opened at $0.43 on Friday. The business’s fifty day simple moving average is $0.59 and its two-hundred day simple moving average is $2.37. Vertical Aerospace has a 12 month low of $0.34 and a 12 month high of $7.33. The company has a market capitalization of $60.20 million, a price-to-earnings ratio of -0.29 and a beta of 1.55.

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

Institutional Trading of Vertical Aerospace

Hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. raised its holdings in Vertical Aerospace by 194.8% during the first 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 during the period. Masters Capital Management LLC lifted its position in shares of Vertical Aerospace by 13.3% in the first quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock valued at $7,514,000 after acquiring an additional 400,000 shares in the last quarter. Howard Capital Management LLC purchased a new position in shares of Vertical Aerospace in the third quarter valued at about $55,000. Squarepoint Ops LLC bought a new position in shares of Vertical Aerospace in the second quarter worth about $456,000. Finally, Bank of America Corp DE boosted its stake in shares of Vertical Aerospace by 898.1% in the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock worth $168,000 after acquiring an additional 68,259 shares during the period. Institutional investors own 81.17% of the company’s stock.

About Vertical Aerospace

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for passenger and cargo transportation. The company is focused on creating aircraft designed to operate with electric propulsion and reduced operational emissions compared with conventional helicopters and short-distance aircraft.

Vertical Aerospace’s primary product is the VX4, a piloted eVTOL aircraft designed for urban air mobility and regional transportation.