Vertical Aerospace (NYSE:EVTL) Issues Quarterly Earnings Results

Vertical Aerospace (NYSE:EVTL) posted its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09), Zacks reports.

Vertical Aerospace Stock Performance

Shares of Vertical Aerospace stock remained flat at $4.38 on Thursday. 1,208,905 shares of the stock traded hands, compared to its average volume of 1,059,900. The stock’s 50-day moving average is $5.11 and its 200-day moving average is $5.30. Vertical Aerospace has a fifty-two week low of $2.76 and a fifty-two week high of $15.99. The company has a market cap of $431.56 million, a P/E ratio of -0.09 and a beta of 1.24.

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently modified their holdings of EVTL. Jump Financial LLC purchased a new position in shares of Vertical Aerospace during the 2nd quarter valued at $91,000. Goldman Sachs Group Inc. purchased a new position in shares of Vertical Aerospace during the 1st quarter valued at $102,000. Raymond James Financial Inc. purchased a new position in shares of Vertical Aerospace during the 2nd quarter valued at $102,000. Engineers Gate Manager LP purchased a new position in shares of Vertical Aerospace during the 2nd quarter valued at $123,000. Finally, Jane Street Group LLC purchased a new position in shares of Vertical Aerospace during the 2nd quarter valued at $833,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and issued a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, September 18th. Cantor Fitzgerald began coverage on shares of Vertical Aerospace in a research report on Friday, August 22nd. They set an “overweight” rating and a $8.00 price objective on the stock. Wall Street Zen cut shares of Vertical Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Vertical Aerospace in a research report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Vertical Aerospace has a consensus rating of “Hold” and an average target price of $10.43.

About Vertical Aerospace

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.