Vertical Aerospace (NYSE:EVTL) Stock Lifted to "Hold" by Barclays

Key Points

• Barclays upgraded Vertical Aerospace to “Hold”, while analysts overall maintain an average “Hold” rating and a consensus price target of $7.12.
• EVTL shares opened at $0.53, near their one-year low of $0.50 and well below the one-year high of $7.33; the company has a market capitalization of approximately $73.8 million.
• Vertical Aerospace reported a quarterly loss of $0.42 per share, missing estimates by $0.02, and analysts expect a full-year loss of $1.14 per share. Institutional investors own 81.17% of the stock.

Vertical Aerospace (NYSE:EVTL - Get Free Report) was upgraded by investment analysts at Barclays to a "hold" rating in a research report issued to clients and investors on Friday, Zacks reports.

A number of other equities research analysts have also recently weighed in on EVTL. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Weiss Ratings raised Vertical Aerospace from a "sell (e+)" rating to a "sell (d)" rating in a report on Wednesday, September 2nd. Finally, Needham & Company LLC cut their price target on shares of Vertical Aerospace to $5.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Vertical Aerospace currently has an average rating of "Hold" and a consensus target price of $7.12.

Vertical Aerospace Price Performance

Shares of NYSE EVTL opened at $0.53 on Friday. Vertical Aerospace has a 1 year low of $0.50 and a 1 year high of $7.33. The company has a market capitalization of $73.76 million, a price-to-earnings ratio of -0.35 and a beta of 1.55. The business has a 50-day moving average of $0.73 and a two-hundred day moving average of $1.69.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. grew 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 purchasing an additional 7,691,459 shares during the last quarter. Masters Capital Management LLC lifted 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 worth $7,514,000 after buying an additional 400,000 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Vertical Aerospace in the second quarter worth approximately $456,000. Connective Capital Management LLC boosted its holdings in shares of Vertical Aerospace by 302.5% in the 4th quarter. Connective Capital Management LLC now owns 203,408 shares of the company's stock valued at $1,084,000 after purchasing an additional 152,873 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Vertical Aerospace by 898.1% during the first quarter. Bank of America Corp DE now owns 75,859 shares of the company's stock valued at $168,000 after acquiring an additional 68,259 shares during the period. 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 company developing electric vertical takeoff and landing (eVTOL) aircraft for urban and regional air transportation. Its work focuses on creating aircraft that can operate with electric propulsion and produce no in-flight emissions, with the aim of supporting quieter and more sustainable passenger travel.

The company's principal aircraft is the VX4, an eVTOL vehicle designed to carry a pilot and passengers. Vertical Aerospace is involved in the aircraft's design, engineering, testing, certification and planned production, as well as the development of related operating and charging infrastructure.

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