Vertical Aerospace Ltd. (NYSE:EVTL) Receives Average Rating of “Hold” from Brokerages

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.30.

Several research firms have commented on EVTL. Weiss Ratings cut shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Cantor Fitzgerald cut shares of Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. D. Boral Capital reissued a “buy” rating and set a $12.00 target price on shares of Vertical Aerospace in a research note on Thursday, April 16th. Finally, Canaccord Genuity Group raised their target price on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research note on Monday, April 20th.

Vertical Aerospace Trading Down 1.5%

Vertical Aerospace stock opened at $1.68 on Friday. The stock has a market cap of $213.27 million, a price-to-earnings ratio of -0.48 and a beta of 1.46. The company’s 50-day moving average price is $2.44 and its two-hundred day moving average price is $3.80. Vertical Aerospace has a 52 week low of $1.62 and a 52 week high of $7.60.

Vertical Aerospace (NYSE:EVTL) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.12. Research analysts expect that Vertical Aerospace will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds have recently made changes to their positions in the business. J. Derek Lewis & Associates Inc. grew its stake in shares of Vertical Aerospace by 41.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock worth $72,000 after purchasing an additional 9,500 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Vertical Aerospace by 898.1% in the 1st 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 last quarter. Saba Capital Management L.P. grew its stake in shares of Vertical Aerospace by 194.8% in the 1st quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock worth $25,726,000 after purchasing an additional 7,691,459 shares during the last quarter. Masters Capital Management LLC grew its stake in shares of Vertical Aerospace by 13.3% in the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock worth $7,514,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new position in shares of Vertical Aerospace in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

About Vertical Aerospace

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.