Vertical Aerospace Ltd. (NYSE:EVTL) Receives $11.30 Consensus Target Price from Brokerages

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.30.

EVTL has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. D. Boral Capital reissued a “buy” rating and issued a $12.00 target price on shares of Vertical Aerospace in a report on Thursday, April 16th. Weiss Ratings downgraded shares of Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group lifted their price target on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a report on Monday, April 20th.

Vertical Aerospace Price Performance

Shares of NYSE:EVTL opened at $1.48 on Wednesday. Vertical Aerospace has a 1 year low of $1.37 and a 1 year high of $7.33. The company’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $3.37. The stock has a market capitalization of $187.81 million, a price-to-earnings ratio of -0.43 and a beta of 1.52.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.12. As a group, analysts anticipate that Vertical Aerospace will post -1.4 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

A number of hedge funds have recently added to or reduced their stakes in EVTL. EFG International AG bought a new stake in shares of Vertical Aerospace during the fourth quarter worth $27,000. Bessemer Group Inc. bought a new position in shares of Vertical Aerospace in the 1st quarter valued at $31,000. Barclays PLC lifted its stake in shares of Vertical Aerospace by 156.0% in the 4th quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after acquiring an additional 4,170 shares during the last quarter. Quarry LP bought a new position in shares of Vertical Aerospace in the 3rd quarter valued at $49,000. Finally, Virtu Financial LLC acquired a new stake in shares of Vertical Aerospace during the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

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.