Vertical Aerospace Ltd. (NYSE:EVTL) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a consensus “Hold” rating on Vertical Aerospace, with five buys, two holds and two sells among nine brokerages. The average 12-month price target is $7.12, though recent targets include Needham’s $5 and Barclays’ $1.
• EVTL opened at $0.40, near its 52-week low of $0.34 and well below its 52-week high of $7.33. The company 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 ownership stands at 81.17%, with several investors recently initiating or increasing positions, including Bank of America, which boosted its stake by 898.1%.

Shares of Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) have been given a consensus recommendation of "Hold" by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.12.

Several brokerages have commented on EVTL. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Needham & Company LLC lowered their price objective on shares of Vertical Aerospace to $5.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Barclays upgraded Vertical Aerospace from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $2.00 to $1.00 in a report on Friday, October 9th. Finally, Weiss Ratings raised Vertical Aerospace from a "sell (e+)" rating to a "sell (d)" rating in a research note on Wednesday, September 2nd.

Vertical Aerospace Stock Performance

NYSE:EVTL opened at $0.40 on Friday. The firm's 50-day moving average is $0.61 and its 200-day moving average is $1.56. Vertical Aerospace has a 52-week low of $0.34 and a 52-week high of $7.33. The company has a market cap of $55.91 million, a price-to-earnings ratio of -0.26 and a beta of 1.55.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued 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 analysts predict that Vertical Aerospace will post -1.14 EPS for the current year.

Institutional Trading of Vertical Aerospace

Institutional investors have recently modified their holdings of the company. Howard Capital Management LLC bought a new position in shares of Vertical Aerospace in the 3rd quarter valued at about $55,000. Squarepoint Ops LLC bought a new stake in Vertical Aerospace during the second quarter worth about $456,000. Cornerstone Capital Inc. bought a new stake in Vertical Aerospace during the second quarter worth about $47,000. J. Derek Lewis & Associates Inc. raised its holdings in Vertical Aerospace by 41.3% during the first 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 in the last quarter. Finally, Bank of America Corp DE boosted 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 purchasing an additional 68,259 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

About Vertical Aerospace

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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