Canaccord Genuity Group Reaffirms "Buy" Rating for Vertical Aerospace (NYSE:EVTL)

Key Points

• Canaccord Genuity Group has reaffirmed a "Buy" rating for Vertical Aerospace (NYSE:EVTL) with a price target of $11.00, indicating a potential upside of 88.91% from its current price.
• The company's recent earnings report showed a loss of ($2.35) EPS, significantly missing analysts' expectation of ($0.43).
• Institutional investors own 81.17% of Vertical Aerospace's stock, indicating strong institutional interest in the company.

Vertical Aerospace (NYSE:EVTL - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They presently have a $11.00 price target on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 75.02% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday. Wall Street Zen downgraded Vertical Aerospace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. D. Boral Capital restated a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a research note on Thursday. Cantor Fitzgerald started coverage on Vertical Aerospace in a report on Friday, August 22nd. They issued an "overweight" rating and a $8.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.00 price target on shares of Vertical Aerospace in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vertical Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Price Performance

EVTL traded up $0.56 during trading on Monday, reaching $6.29. 3,189,834 shares of the company's stock were exchanged, compared to its average volume of 1,239,105. The stock has a market capitalization of $619.26 million, a P/E ratio of -0.12 and a beta of 1.24. The company's fifty day simple moving average is $5.46 and its 200-day simple moving average is $4.94. Vertical Aerospace has a 1 year low of $2.76 and a 1 year high of $15.99.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($1.92). Equities analysts forecast that Vertical Aerospace will post -3.95 EPS for the current year.

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds and other institutional investors have recently bought and sold shares of the business. Watts Gwilliam & Co. LLC purchased a new stake in Vertical Aerospace during the second quarter valued at about $102,000. Squarepoint Ops LLC boosted its stake in shares of Vertical Aerospace by 429.6% during the 2nd quarter. Squarepoint Ops LLC now owns 140,018 shares of the company's stock worth $948,000 after acquiring an additional 113,580 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Vertical Aerospace in the 2nd quarter valued at $123,000. Jane Street Group LLC bought a new stake in shares of Vertical Aerospace in the 2nd quarter worth about $833,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Vertical Aerospace during the 2nd quarter worth about $102,000. Institutional investors own 81.17% of the company's stock.

Vertical Aerospace Company Profile

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.