Analysts Set Vertical Aerospace Ltd. (NYSE:EVTL) Target Price at $11.30

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.10.

EVTL has been the subject of several research reports. Weiss Ratings lowered Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Cantor Fitzgerald cut Vertical Aerospace from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Canaccord Genuity Group lifted their price objective on shares of Vertical Aerospace from $9.50 to $10.50 and gave the stock a “buy” rating in a report on Monday, April 20th. Needham & Company LLC lowered their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Vertical Aerospace in a report on Monday, July 27th.

Vertical Aerospace Price Performance

Shares of EVTL opened at $0.85 on Friday. The stock’s 50-day moving average is $1.66 and its two-hundred day moving average is $2.73. The stock has a market cap of $107.85 million, a PE ratio of -0.25 and a beta of 1.54. Vertical Aerospace has a 12 month low of $0.77 and a 12 month high of $7.33.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.42). On average, research analysts anticipate that Vertical Aerospace will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Large investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. boosted its stake in Vertical Aerospace by 25.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 14,435 shares of the company’s stock valued at $77,000 after acquiring an additional 2,963 shares during the period. Barclays PLC raised its position in shares of 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 purchasing an additional 4,170 shares during the period. EFG International AG bought a new stake in shares of Vertical Aerospace in the 4th quarter worth approximately $27,000. LPL Financial LLC lifted its holdings in shares of Vertical Aerospace by 65.3% in the 4th quarter. LPL Financial LLC now owns 18,255 shares of the company’s stock worth $97,000 after purchasing an additional 7,209 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. boosted its position in Vertical Aerospace by 41.3% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock valued at $72,000 after purchasing an additional 9,500 shares during the period. Institutional investors own 81.17% of the company’s stock.

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.