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

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given 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 $7.12.

A number of equities research analysts recently weighed in on EVTL shares. Barclays upgraded Vertical Aerospace from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $2.00 to $1.00 in a research note on Friday, October 9th. Weiss Ratings upgraded shares of Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, September 2nd. Needham & Company LLC reduced their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th.

Vertical Aerospace Stock Performance

Shares of NYSE:EVTL opened at $0.38 on Friday. Vertical Aerospace has a 52-week low of $0.34 and a 52-week high of $7.33. The company has a market capitalization of $53.14 million, a P/E ratio of -0.25 and a beta of 1.55. The company has a 50-day simple moving average of $0.60 and a 200 day simple moving average of $1.55.

Vertical Aerospace (NYSE:EVTL) last announced its quarterly 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). As a group, equities analysts forecast that Vertical Aerospace will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

A number of large investors have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its position in shares of Vertical Aerospace by 194.8% in the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock valued at $25,726,000 after acquiring an additional 7,691,459 shares during the period. Masters Capital Management LLC raised its holdings in Vertical Aerospace by 13.3% in the 1st quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company’s stock valued at $7,514,000 after acquiring an additional 400,000 shares in the last quarter. Cornerstone Capital Inc. bought a new stake in Vertical Aerospace during the second quarter worth about $47,000. Squarepoint Ops LLC bought a new stake in Vertical Aerospace during the second quarter worth about $456,000. Finally, Howard Capital Management LLC bought a new position in Vertical Aerospace in the 3rd quarter valued at about $55,000. 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 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.