Vertical Aerospace’s (EVTL) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Vertical Aerospace (NYSE:EVTL) in a research report report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a $11.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Wall Street Zen lowered Vertical Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Cantor Fitzgerald initiated coverage on Vertical Aerospace in a report on Friday, August 22nd. They issued an “overweight” rating and a $8.00 target price on the stock. Finally, D. Boral Capital reissued a “buy” rating and issued a $15.00 target price on shares of Vertical Aerospace in a report on Thursday, September 18th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.43.

Vertical Aerospace Trading Up 9.7%

Shares of EVTL opened at $6.29 on Monday. The firm has a market cap of $619.26 million, a PE ratio of -0.12 and a beta of 1.24. The company’s 50 day simple moving average is $5.46 and its 200-day simple moving average is $4.94. Vertical Aerospace has a 12-month low of $2.76 and a 12-month high of $15.99.

Vertical Aerospace (NYSE:EVTL) last released its earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($1.92). As a group, equities research analysts forecast that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

Several institutional investors and hedge funds have recently made changes to their positions in EVTL. Jane Street Group LLC purchased a new stake in shares of Vertical Aerospace in the fourth quarter valued at $300,000. Bank of America Corp DE purchased a new stake in shares of Vertical Aerospace in the fourth quarter valued at $264,000. XTX Topco Ltd purchased a new stake in shares of Vertical Aerospace in the first quarter valued at $131,000. Inherent Management Corp. purchased a new stake in shares of Vertical Aerospace in the first quarter valued at $1,109,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Vertical Aerospace in the first quarter valued at $102,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

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.