Inherent Management Corp. Takes $1.11 Million Position in Vertical Aerospace Ltd. $EVTL

Key Points

• Inherent Management Corp. has acquired 330,000 shares of Vertical Aerospace Ltd. (NYSE: EVTL), valued at approximately $1,109,000, making it the 8th largest position in their portfolio.
• Analysts have varied views on Vertical Aerospace, with HC Wainwright setting a new price target of $15.00, while Wall Street Zen downgraded the stock to a "sell" rating.
• Vertical Aerospace reported earnings of ($2.35) per share for the last quarter, significantly underperforming the consensus estimate of ($0.43).

Inherent Management Corp. purchased a new stake in Vertical Aerospace Ltd. (NYSE:EVTL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 330,000 shares of the company's stock, valued at approximately $1,109,000. Vertical Aerospace comprises about 0.9% of Inherent Management Corp.'s portfolio, making the stock its 8th largest holding. Inherent Management Corp. owned 0.39% of Vertical Aerospace at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Vertical Aerospace during the 4th quarter valued at $237,000. Marshall Wace LLP purchased a new position in shares of Vertical Aerospace during the 4th quarter worth about $630,000. Jane Street Group LLC purchased a new position in Vertical Aerospace during the 4th quarter valued at $300,000. Bank of America Corp DE bought a new stake in shares of Vertical Aerospace during the fourth quarter worth $264,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Vertical Aerospace during the fourth quarter valued at $189,000. 81.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on EVTL shares. Canaccord Genuity Group lowered their price target on Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a report on Monday, July 14th. Wall Street Zen lowered shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Needham & Company LLC initiated coverage on shares of Vertical Aerospace in a research note on Thursday, July 17th. They set a "buy" rating and a $9.00 price objective on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a research report on Tuesday, July 22nd. Finally, Cantor Fitzgerald began coverage on shares of Vertical Aerospace in a research report on Friday. They set an "overweight" rating and a $8.00 target price for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Vertical Aerospace has an average rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Price Performance

EVTL traded up $0.5460 during trading on Friday, reaching $5.2060. 1,456,245 shares of the company's stock were exchanged, compared to its average volume of 1,241,401. Vertical Aerospace Ltd. has a 1 year low of $2.76 and a 1 year high of $15.99. The company's fifty day simple moving average is $5.84 and its 200-day simple moving average is $4.89. The stock has a market capitalization of $503.32 million, a P/E ratio of -0.10 and a beta of 1.25.

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

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.