Canaccord Genuity Group Issues Positive Forecast for Vertical Aerospace (NYSE:EVTL) Stock Price

Key Points

• Canaccord Genuity Group raised its target for Vertical Aerospace from $9.50 to $10.50 and kept a "buy" rating, implying a potential upside of 248.61% from the prior close.
• The stock's analyst picture is mixed but tilted positive with a consensus of "Moderate Buy" (six Buy vs. two Sell) and an average price target of $11.30.
• EVTL opened at $3.01, has a market cap of about $308M, is loss-making (last quarter EPS -$0.39; analysts forecast -$3.95 for the year), and institutional investors hold 81.17% of the shares.

Vertical Aerospace (NYSE:EVTL - Get Free Report) had its target price lifted by equities researchers at Canaccord Genuity Group from $9.50 to $10.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 248.61% from the stock's previous close.

A number of other research firms have also commented on EVTL. D. Boral Capital reissued a "buy" rating and issued a $12.00 price target on shares of Vertical Aerospace in a research report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. Raymond James Financial lowered shares of Vertical Aerospace from a "market perform" rating to an "underperform" rating in a report on Monday, February 23rd. Finally, William Blair initiated coverage on shares of Vertical Aerospace in a research note on Wednesday, January 7th. They issued an "outperform" rating for the company. Six equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.30.

Vertical Aerospace Stock Performance

EVTL stock opened at $3.01 on Monday. The stock's 50 day simple moving average is $3.50 and its 200 day simple moving average is $4.61. The company has a market cap of $308.22 million, a P/E ratio of -0.99 and a beta of 1.46. Vertical Aerospace has a fifty-two week low of $1.90 and a fifty-two week high of $7.60.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). Equities analysts predict that Vertical Aerospace will post -3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. purchased a new position in shares of Vertical Aerospace in the fourth quarter worth $123,000. Caitong International Asset Management Co. Ltd boosted its position in Vertical Aerospace by 446.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 16,678 shares of the company's stock valued at $89,000 after buying an additional 13,624 shares during the period. Virtu Financial LLC grew its holdings in Vertical Aerospace by 250.5% in the 4th quarter. Virtu Financial LLC now owns 35,768 shares of the company's stock worth $191,000 after acquiring an additional 25,562 shares during the last quarter. Connective Capital Management LLC increased its position in shares of Vertical Aerospace by 302.5% in the fourth quarter. Connective Capital Management LLC now owns 203,408 shares of the company's stock valued at $1,084,000 after acquiring an additional 152,873 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of Vertical Aerospace by 19.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 198,864 shares of the company's stock valued at $1,060,000 after acquiring an additional 32,329 shares during the last quarter. Institutional investors own 81.17% of the company's stock.

Vertical Aerospace Company Profile

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.

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