Vertical Aerospace Ltd. (NYSE:EVTL) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts rate Vertical Aerospace “Hold” on average: Of nine covering firms, five rate it a buy, one a hold, and three a sell. The average 12-month price target is $9.17, though recent targets and ratings have been mixed.
• EVTL opened at $0.73, well below its one-year high of $7.33, with a market capitalization of approximately $101 million. Its 50-day and 200-day moving averages stood at $0.90 and $1.91, respectively.
• The company reported a quarterly loss of $0.42 per share, missing the $0.40 consensus loss estimate, while institutional investors own 81.17% of the stock. Vertical Aerospace is developing the VX4 electric vertical takeoff and landing aircraft for passenger and cargo transportation.

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) have been given an average recommendation of "Hold" by the nine research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.17.

Several analysts recently weighed in on the company. Needham & Company LLC cut their price target on Vertical Aerospace to $5.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Barclays raised Vertical Aerospace to a "strong sell" rating in a report on Wednesday, July 29th. Weiss Ratings raised Vertical Aerospace from a "sell (e+)" rating to a "sell (d)" rating in a research note on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Vertical Aerospace in a research report on Monday, July 27th.

Vertical Aerospace Price Performance

NYSE:EVTL opened at $0.73 on Monday. The firm has a market capitalization of $101.02 million, a P/E ratio of -0.48 and a beta of 1.48. Vertical Aerospace has a one year low of $0.52 and a one year high of $7.33. The company's 50-day simple moving average is $0.90 and its 200 day simple moving average is $1.91.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in shares of Vertical Aerospace during the second quarter valued at approximately $456,000. Cornerstone Capital Inc. purchased a new position in Vertical Aerospace in the 2nd quarter worth approximately $47,000. J. Derek Lewis & Associates Inc. raised its holdings in Vertical Aerospace by 41.3% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company's stock worth $72,000 after acquiring an additional 9,500 shares during the last quarter. Bank of America Corp DE lifted 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 valued at $168,000 after acquiring an additional 68,259 shares in the last quarter. Finally, Saba Capital Management L.P. boosted its stake in Vertical Aerospace by 194.8% during 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 purchasing an additional 7,691,459 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

About Vertical Aerospace

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.

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