Vertical Aerospace Ltd. (NYSE:EVTL) Stock Has Average Target Price of $7.12 According to Brokerages

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.12.

EVTL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Vertical Aerospace in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, September 2nd. 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, Barclays raised shares of Vertical Aerospace from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $2.00 to $1.00 in a report on Friday, October 9th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EVTL. Bessemer Group Inc. acquired a new position in Vertical Aerospace during the 1st quarter valued at about $31,000. Cornerstone Capital Inc. purchased a new stake in shares of Vertical Aerospace during the 2nd quarter worth about $47,000. Howard Capital Management LLC acquired a new position in shares of Vertical Aerospace during the 3rd quarter worth approximately $55,000. J. Derek Lewis & Associates Inc. lifted its position in shares of 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 buying an additional 9,500 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Vertical Aerospace by 898.1% in the 1st quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock valued at $168,000 after acquiring an additional 68,259 shares during the period. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Price Performance

EVTL stock opened at $0.43 on Friday. The company has a market capitalization of $59.78 million, a PE ratio of -0.28 and a beta of 1.55. The firm’s 50-day moving average is $0.57 and its 200 day moving average is $2.30. Vertical Aerospace has a 12 month low of $0.34 and a 12 month high of $7.33.

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

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for passenger and cargo transportation. The company is focused on creating aircraft designed to operate with electric propulsion and reduced operational emissions compared with conventional helicopters and short-distance aircraft.

Vertical Aerospace’s primary product is the VX4, a piloted eVTOL aircraft designed for urban air mobility and regional transportation.