Vertical Aerospace (NYSE:EVTL) Announces Quarterly Earnings Results

Vertical Aerospace (NYSE:EVTL) issued its quarterly earnings data on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.42), FiscalAI reports.

Here are the key takeaways from Vertical Aerospace’s conference call:

• Flight-testing advanced significantly: Vertical completed piloted transition flights with two full-scale prototypes and demonstrated five consecutive eVTOL flights at Farnborough in changing weather and public airspace.
• The company is expanding the VX4/Valo ecosystem through partnerships covering autonomy and defense with Near Earth Autonomy, high-power charging through the government-supported ECLiPSE program, and European airspace integration through VERTI-GO.
• Vertical said U.K. government support could reach approximately $100 million, including a potential additional $30.5 million grant, while a proposed U.K. Export Finance framework may support future customer and export financing.
• Vertical moved its expected type-certification timeline from 2028 to 2029, citing a delay in transition testing that kept engineering resources focused on the flight-test program; management still estimates approximately $700 million in additional cash needs.
• The company expects about $150 million of net operating cash outflows over the next 12 months and recently raised or accessed roughly $100 million through equity, convertible notes, and preferred equity, extending its projected cash runway only through around the end of the third quarter of 2027.

Vertical Aerospace Stock Up 0.4%

EVTL stock traded up $0.00 during mid-day trading on Friday, reaching $0.84. 3,709,062 shares of the stock traded hands, compared to its average volume of 3,264,010. The business has a 50-day moving average of $1.66 and a two-hundred day moving average of $2.73. Vertical Aerospace has a 52 week low of $0.77 and a 52 week high of $7.33. The firm has a market capitalization of $107.08 million, a PE ratio of -0.24 and a beta of 1.54.

Institutional Trading of Vertical Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of EVTL. Millennium Management LLC increased its stake in Vertical Aerospace by 293.4% during the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after acquiring an additional 1,333,312 shares during the period. Kotler Kevin acquired a new stake in shares of Vertical Aerospace in the 4th quarter valued at $5,009,000. Inherent Management Corp. grew its stake in Vertical Aerospace by 151.3% during the fourth quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock worth $7,099,000 after buying an additional 801,883 shares during the last quarter. Marshall Wace LLP grew its position in Vertical Aerospace by 81.1% during the 3rd quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock worth $7,413,000 after acquiring an additional 639,404 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Vertical Aerospace by 152.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,010,101 shares of the company’s stock valued at $5,384,000 after buying an additional 610,101 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EVTL has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Needham & Company LLC cut their target price on Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays upgraded shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. D. Boral Capital reissued a “buy” rating and set a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vertical Aerospace currently has an average rating of “Hold” and a consensus target price of $10.10.

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.