Vertical Aerospace Ltd. (NYSE:EVTL) Stock Has Average Price Target of $9.17 According to Analysts

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.17.

Several brokerages have commented on EVTL. 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Barclays raised shares of Vertical Aerospace to a “strong sell” rating in a report on Wednesday, July 29th. Finally, Needham & Company LLC decreased their target price on shares of Vertical Aerospace to $5.00 and set a “buy” rating for the company in a research report on Thursday, August 13th.

Vertical Aerospace Stock Down 2.8%

Shares of NYSE:EVTL opened at $0.61 on Monday. Vertical Aerospace has a 52-week low of $0.52 and a 52-week high of $7.33. The stock has a market cap of $85.11 million, a price-to-earnings ratio of -0.40 and a beta of 1.48. The business has a 50-day moving average price of $0.84 and a 200-day moving average price of $1.84.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Friday, August 14th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.02). As a group, equities analysts anticipate that Vertical Aerospace will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

Several institutional investors and hedge funds have recently modified their holdings of EVTL. Saba Capital Management L.P. grew its holdings in Vertical Aerospace by 194.8% during the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock worth $25,726,000 after acquiring an additional 7,691,459 shares during the period. Masters Capital Management LLC raised its position in Vertical Aerospace by 13.3% during the first 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. 1492 Capital Management LLC acquired a new position in Vertical Aerospace in the fourth quarter valued at approximately $1,336,000. Squarepoint Ops LLC acquired a new position in Vertical Aerospace in the second quarter valued at approximately $456,000. Finally, Bank of America Corp DE boosted its position 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 worth $168,000 after purchasing an additional 68,259 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for short-distance passenger and cargo transportation. The company’s aircraft are designed to combine the vertical takeoff and landing capabilities of a helicopter with the potential operating benefits of electric propulsion.

Vertical Aerospace’s primary aircraft program is the VX4, a piloted, battery-powered eVTOL aircraft intended for commercial air taxi and regional transportation applications.