Vertical Aerospace (NYSE:EVTL) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Vertical Aerospace (NYSE:EVTL) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $9.00 target price on the stock.

Other research analysts have also issued reports about the company. D. Boral Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, July 10th. HC Wainwright restated a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. Finally, Canaccord Genuity Group cut their price target on Vertical Aerospace from $13.50 to $11.00 and set a “buy” rating on the stock in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Vertical Aerospace Trading Up 8.1%

Shares of Vertical Aerospace stock opened at $6.97 on Thursday. Vertical Aerospace has a fifty-two week low of $2.76 and a fifty-two week high of $15.99. The stock has a 50 day moving average of $5.71 and a 200 day moving average of $5.25.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Tuesday, May 13th. The company reported $4.44 EPS for the quarter, topping the consensus estimate of ($0.40) by $4.84. Research analysts predict that Vertical Aerospace will post -3.95 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mudrick Capital Management L.P. increased its position in Vertical Aerospace by 11,735.9% in the 4th quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company’s stock valued at $595,582,000 after acquiring an additional 46,943,585 shares during the period. Inherent Management Corp. acquired a new position in Vertical Aerospace in the 1st quarter valued at about $1,109,000. Marshall Wace LLP acquired a new position in Vertical Aerospace in the 4th quarter valued at about $630,000. XTX Topco Ltd acquired a new position in Vertical Aerospace in the 1st quarter valued at about $131,000. Finally, Goldman Sachs Group Inc. acquired a new position in Vertical Aerospace in the 1st quarter valued at about $102,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.