Vertical Aerospace (NYSE:EVTL) Given New $10.50 Price Target at Canaccord Genuity Group

Vertical Aerospace (NYSE:EVTL) had its target price boosted by Canaccord Genuity Group from $9.50 to $10.50 in a report published on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other research firms have also commented on EVTL. D. Boral Capital reissued a “buy” rating and issued a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday, April 16th. William Blair started coverage on Vertical Aerospace in a research report on Wednesday, January 7th. They issued an “outperform” rating for the company. Raymond James Financial lowered Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.30.

Vertical Aerospace Trading Down 4.5%

EVTL opened at $2.86 on Monday. The firm has a market cap of $292.15 million, a price-to-earnings ratio of -0.93 and a beta of 1.46. Vertical Aerospace has a 12 month low of $1.90 and a 12 month high of $7.60. The stock has a fifty day moving average price of $3.46 and a 200-day moving average price of $4.59.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). On average, equities research analysts forecast that Vertical Aerospace will post -1.42 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. grew its stake in Vertical Aerospace by 25.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company’s stock worth $77,000 after buying an additional 2,963 shares during the last quarter. Barclays PLC grew its stake in Vertical Aerospace by 156.0% during the 4th quarter. Barclays PLC now owns 6,843 shares of the company’s stock worth $36,000 after buying an additional 4,170 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Vertical Aerospace by 144.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock worth $45,000 after buying an additional 4,850 shares during the last quarter. EFG International AG purchased a new position in Vertical Aerospace during the 4th quarter worth $27,000. Finally, LPL Financial LLC grew its stake in Vertical Aerospace by 65.3% during the 4th quarter. LPL Financial LLC now owns 18,255 shares of the company’s stock worth $97,000 after buying an additional 7,209 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Vertical Aerospace Company Profile

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.