Vertical Aerospace (NYSE:EVTL) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Vertical Aerospace (NYSE:EVTL) posted its earnings results on Tuesday. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01), FiscalAI reports.

Vertical Aerospace Trading Down 1.3%

EVTL opened at $3.55 on Tuesday. Vertical Aerospace has a 12 month low of $2.76 and a 12 month high of $7.60. The firm has a market cap of $353.76 million, a P/E ratio of -0.07 and a beta of 1.23. The stock has a 50-day moving average of $4.59 and a 200 day moving average of $4.99.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. EFG International AG bought a new position in Vertical Aerospace during the 4th quarter worth about $27,000. Barclays PLC increased its position in Vertical Aerospace by 156.0% during the 4th quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after buying an additional 4,170 shares in the last quarter. Quarry LP acquired a new position in shares of Vertical Aerospace during the third quarter valued at about $49,000. Virtu Financial LLC purchased a new position in shares of Vertical Aerospace in the third quarter worth $53,000. Finally, Cetera Investment Advisers purchased a new position in Vertical Aerospace in the 4th quarter worth $55,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVTL has been the topic of a number of recent research reports. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Vertical Aerospace in a research note on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price (up from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a report on Wednesday, January 21st. William Blair started coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They issued an “outperform” rating on the stock. Finally, Raymond James Financial cut Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research note on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.80.

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.