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

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.30.

A number of equities analysts have issued reports on EVTL shares. Cantor Fitzgerald cut Vertical Aerospace from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. D. Boral Capital reissued a “buy” rating and set a $12.00 price target on shares of Vertical Aerospace in a research note on Thursday, April 16th. Weiss Ratings cut Vertical Aerospace from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Finally, Canaccord Genuity Group upped their price objective on Vertical Aerospace from $9.50 to $10.50 and gave the company a “buy” rating in a research note on Monday, April 20th.

Vertical Aerospace Stock Performance

NYSE EVTL opened at $1.48 on Wednesday. The firm’s fifty day moving average price is $2.16 and its two-hundred day moving average price is $3.36. The stock has a market cap of $187.81 million, a PE ratio of -0.43 and a beta of 1.52. Vertical Aerospace has a fifty-two week low of $1.37 and a fifty-two week high of $7.33.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.12. As a group, sell-side analysts predict that Vertical Aerospace will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Institutional investors have recently added to or reduced their stakes in the business. EFG International AG bought a new position in shares of Vertical Aerospace during the fourth quarter valued at $27,000. Bessemer Group Inc. acquired a new stake in Vertical Aerospace in the first quarter valued at $31,000. Barclays PLC increased its holdings in Vertical Aerospace by 156.0% in the fourth quarter. Barclays PLC now owns 6,843 shares of the company’s stock valued at $36,000 after purchasing an additional 4,170 shares during the period. Quarry LP acquired a new stake in Vertical Aerospace in the third quarter valued at $49,000. Finally, Virtu Financial LLC bought a new position in Vertical Aerospace during the 3rd quarter worth $53,000. 81.17% of the stock is owned by institutional investors.

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.