Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Vertical Aerospace (NYSE:EVTL) Stock Price

Vertical Aerospace (NYSE:EVTL) had its price target cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $8.00 to $5.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Vertical Aerospace in a research report on Wednesday, August 19th. Cantor Fitzgerald cut Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Needham & Company LLC cut their price target on shares of Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Barclays raised shares of Vertical Aerospace to a “strong sell” rating in a research report on Wednesday, July 29th. Six 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. According to MarketBeat, Vertical Aerospace presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Vertical Aerospace Stock Down 3.7%

Shares of NYSE:EVTL traded down $0.03 on Monday, hitting $0.66. 2,847,696 shares of the company traded hands, compared to its average volume of 3,364,204. The company has a market cap of $83.76 million, a PE ratio of -0.43 and a beta of 1.54. The stock has a 50 day simple moving average of $1.35 and a 200-day simple moving average of $2.42. Vertical Aerospace has a 52 week low of $0.65 and a 52 week high of $7.33.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Friday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.02). As a group, sell-side analysts anticipate that Vertical Aerospace will post -1.14 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

A number of institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. grew its stake in shares of Vertical Aerospace by 194.8% during the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock worth $25,726,000 after acquiring an additional 7,691,459 shares during the last quarter. Millennium Management LLC lifted its stake in Vertical Aerospace by 293.4% during the 3rd quarter. Millennium Management LLC now owns 1,787,790 shares of the company’s stock valued at $9,279,000 after acquiring an additional 1,333,312 shares during the period. Kotler Kevin purchased a new position in shares of Vertical Aerospace during the 4th quarter valued at about $5,009,000. Inherent Management Corp. raised its holdings in Vertical Aerospace by 151.3% in the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company’s stock worth $7,099,000 after purchasing an additional 801,883 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Vertical Aerospace by 81.1% in the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company’s stock valued at $7,413,000 after purchasing an additional 639,404 shares during the period. 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.