Vertical Aerospace (NYSE:EVTL) Given New $5.00 Price Target at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank lowered Vertical Aerospace’s price target from $8.00 to $5.00 while maintaining a “buy” rating.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, one a Hold and three a Sell, resulting in an average “Hold” rating and a consensus target price of $9.50.
• Shares traded near their 52-week low at $0.66, while the company reported a quarterly loss of $0.42 per share, missing estimates by $0.02.

Vertical Aerospace (NYSE:EVTL - Get Free Report) had its price target decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $8.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

EVTL has been the topic of a number of other research reports. Cantor Fitzgerald lowered Vertical Aerospace from an "overweight" rating to a "neutral" rating in a report on Thursday, May 7th. Barclays upgraded Vertical Aerospace to a "strong sell" rating in a research note on Wednesday, July 29th. Needham & Company LLC dropped their price target on shares of Vertical Aerospace to $5.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Vertical Aerospace in a report on Wednesday, August 19th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.50.

Vertical Aerospace Stock Performance

Shares of NYSE:EVTL traded down $0.03 during mid-day trading on Monday, hitting $0.66. 2,847,696 shares of the company traded hands, compared to its average volume of 3,364,204. The firm has a market cap of $83.76 million, a P/E ratio of -0.43 and a beta of 1.54. Vertical Aerospace has a 52-week low of $0.65 and a 52-week high of $7.33. The firm's 50 day simple moving average is $1.35 and its 200 day simple moving average is $2.42.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Equities research analysts expect that Vertical Aerospace will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. increased its position in Vertical Aerospace by 194.8% in the 1st 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 position in Vertical Aerospace by 13.3% in the first quarter. Masters Capital Management LLC now owns 3,400,000 shares of the company's stock valued at $7,514,000 after purchasing an additional 400,000 shares during the period. Millennium Management LLC increased its position in shares of Vertical Aerospace by 33.5% in the 4th quarter. Millennium Management LLC now owns 2,385,917 shares of the company's stock valued at $12,717,000 after purchasing an additional 598,127 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Vertical Aerospace by 19.1% in the fourth quarter. Marshall Wace LLP now owns 1,701,501 shares of the company's stock valued at $9,069,000 after purchasing an additional 273,202 shares in the last quarter. Finally, Inherent Management Corp. increased its position in Vertical Aerospace by 151.3% during the 4th quarter. Inherent Management Corp. now owns 1,331,883 shares of the company's stock worth $7,099,000 after purchasing an additional 801,883 shares in the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source