Vertical Aerospace (NYSE:EVTL) Issues Quarterly Earnings Results

Vertical Aerospace (NYSE:EVTL) released its earnings results on Thursday. The company reported ($0.42) earnings per share for the quarter, hitting the consensus estimate of ($0.42), FiscalAI reports.

Here are the key takeaways from Vertical Aerospace’s conference call:

• Flight-testing advanced significantly: Vertical completed piloted transition flights with two full-scale prototypes and demonstrated five consecutive eVTOL flights at Farnborough in changing weather and public airspace.
• The company is expanding the VX4/Valo ecosystem through partnerships covering autonomy and defense with Near Earth Autonomy, high-power charging through the government-supported ECLiPSE program, and European airspace integration through VERTI-GO.
• Vertical said U.K. government support could reach approximately $100 million, including a potential additional $30.5 million grant, while a proposed U.K. Export Finance framework may support future customer and export financing.
• Vertical moved its expected type-certification timeline from 2028 to 2029, citing a delay in transition testing that kept engineering resources focused on the flight-test program; management still estimates approximately $700 million in additional cash needs.
• The company expects about $150 million of net operating cash outflows over the next 12 months and recently raised or accessed roughly $100 million through equity, convertible notes, and preferred equity, extending its projected cash runway only through around the end of the third quarter of 2027.

Vertical Aerospace Stock Up 0.4%

Vertical Aerospace stock traded up $0.00 during trading hours on Friday, hitting $0.84. The stock had a trading volume of 3,711,846 shares, compared to its average volume of 3,265,710. The stock has a market cap of $107.08 million, a price-to-earnings ratio of -0.24 and a beta of 1.54. Vertical Aerospace has a one year low of $0.77 and a one year high of $7.33. The business’s 50 day simple moving average is $1.66 and its 200-day simple moving average is $2.73.

Analysts Set New Price Targets

EVTL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. 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. Canaccord Genuity Group raised their price target on shares of Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research note on Monday, April 20th. Barclays raised shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Finally, Needham & Company LLC dropped their price objective on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC raised its holdings in Vertical Aerospace by 250.5% in the 4th quarter. Virtu Financial LLC now owns 35,768 shares of the company’s stock valued at $191,000 after buying an additional 25,562 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Vertical Aerospace by 19.4% during the 4th quarter. Tudor Investment Corp ET AL now owns 198,864 shares of the company’s stock worth $1,060,000 after acquiring an additional 32,329 shares during the last quarter. Quadrature Capital Ltd increased its position in Vertical Aerospace by 122.8% in the 4th quarter. Quadrature Capital Ltd now owns 138,904 shares of the company’s stock valued at $740,000 after acquiring an additional 76,554 shares during the period. Millennium Management LLC increased its position in Vertical Aerospace by 33.5% in the 4th quarter. Millennium Management LLC now owns 2,385,917 shares of the company’s stock valued at $12,717,000 after acquiring an additional 598,127 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Vertical Aerospace by 25.8% during 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 last quarter. Institutional investors and hedge funds 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.