Vertical Aerospace Ltd. (NYSE:EVTL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.17.

A number of brokerages have issued reports on EVTL. Barclays raised shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Needham & Company LLC lowered their price target on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings raised Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, September 2nd.

Vertical Aerospace Stock Performance

Shares of NYSE:EVTL opened at $0.60 on Monday. Vertical Aerospace has a 52-week low of $0.52 and a 52-week high of $7.33. The firm has a market cap of $83.03 million, a P/E ratio of -0.39 and a beta of 1.55. The business’s 50 day simple moving average is $0.81 and its two-hundred day simple moving average is $1.81.

Vertical Aerospace (NYSE:EVTL) last posted its earnings results on Friday, August 14th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). On average, equities analysts forecast that Vertical Aerospace will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently modified their holdings of EVTL. J. Derek Lewis & Associates Inc. increased its stake in Vertical Aerospace by 41.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock worth $72,000 after acquiring an additional 9,500 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Vertical Aerospace by 351.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,773 shares of the company’s stock worth $73,000 after buying an additional 10,719 shares during the period. Bessemer Group Inc. purchased a new stake in Vertical Aerospace during the first quarter valued at approximately $31,000. Cornerstone Capital Inc. acquired a new stake in Vertical Aerospace in the 2nd quarter worth approximately $47,000. Finally, Bank of America Corp DE lifted its holdings in shares of Vertical Aerospace by 898.1% during the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock worth $168,000 after purchasing an additional 68,259 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 company developing electric vertical takeoff and landing (eVTOL) aircraft for short-distance passenger and cargo transportation. The company’s aircraft are designed to combine the vertical takeoff and landing capabilities of a helicopter with the potential operating benefits of electric propulsion.

Vertical Aerospace’s primary aircraft program is the VX4, a piloted, battery-powered eVTOL aircraft intended for commercial air taxi and regional transportation applications.