Vertical Aerospace (NYSE:EVTL) Price Target Raised to $10.50

Vertical Aerospace (NYSE:EVTL) had its price target upped by Canaccord Genuity Group from $9.50 to $10.50 in a research note published on Monday, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on EVTL. D. Boral Capital restated a “buy” rating and set a $12.00 price objective on shares of Vertical Aerospace in a research report on Thursday, April 16th. William Blair began coverage on Vertical Aerospace in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Raymond James Financial lowered Vertical Aerospace from a “market perform” rating to an “underperform” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Vertical Aerospace has a consensus rating of “Moderate Buy” and an average price target of $11.30.

Vertical Aerospace Stock Performance

NYSE EVTL opened at $2.70 on Monday. The stock’s fifty day moving average is $3.39 and its two-hundred day moving average is $4.55. The firm has a market capitalization of $343.15 million, a P/E ratio of -0.88 and a beta of 1.46. Vertical Aerospace has a fifty-two week low of $1.90 and a fifty-two week high of $7.60.

Vertical Aerospace (NYSE:EVTL) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.01). As a group, sell-side analysts forecast that Vertical Aerospace will post -1.42 EPS for the current year.

Institutional Trading of Vertical Aerospace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVTL. EFG International AG purchased a new stake in Vertical Aerospace in the fourth quarter valued at approximately $27,000. Barclays PLC raised its position 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. Jones Financial Companies Lllp raised its position in Vertical Aerospace by 144.3% in the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock valued at $45,000 after purchasing an additional 4,850 shares during the period. Quarry LP purchased a new stake in Vertical Aerospace in the third quarter valued at approximately $49,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Vertical Aerospace during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

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.