Vertical Aerospace's (EVTL) Buy Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated a "buy" rating for Vertical Aerospace (NYSE:EVTL) with a target price of $9.00, indicating a potential upside of 88.68% from its previous closing price.
• While six analysts rate the stock as a Buy, it also has one Hold and one Sell rating, resulting in a consensus rating of "Moderate Buy" with an average price target of $10.43.
• Vertical Aerospace reported a loss of ($2.35) earnings per share for the last quarter, significantly missing analysts' expectations of ($0.43).

Vertical Aerospace (NYSE:EVTL - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. Needham & Company LLC's price objective would suggest a potential upside of 57.34% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Vertical Aerospace in a research note on Friday, August 22nd. They set an "overweight" rating and a $8.00 target price for the company. D. Boral Capital restated a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday. Canaccord Genuity Group dropped their price target on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a research report on Monday, July 14th. Wall Street Zen downgraded shares of Vertical Aerospace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.43.

Vertical Aerospace Trading Up 10.2%

Vertical Aerospace stock traded up $0.53 during midday trading on Thursday, reaching $5.72. 3,371,782 shares of the stock traded hands, compared to its average volume of 1,143,350. The firm has a fifty day moving average price of $5.43 and a two-hundred day moving average price of $4.91. The firm has a market cap of $563.59 million, a price-to-earnings ratio of -0.11 and a beta of 1.24. Vertical Aerospace has a fifty-two week low of $2.76 and a fifty-two week high of $15.99.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted 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). Analysts anticipate that Vertical Aerospace will post -3.95 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its holdings in shares of Vertical Aerospace by 120.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company's stock worth $26,000 after purchasing an additional 2,066 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Vertical Aerospace in the 2nd quarter worth approximately $91,000. Jump Financial LLC bought a new stake in shares of Vertical Aerospace in the 2nd quarter worth approximately $91,000. Goldman Sachs Group Inc. bought a new stake in shares of Vertical Aerospace in the 1st quarter worth approximately $102,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Vertical Aerospace in the 2nd quarter worth approximately $102,000. 81.17% of the stock is currently owned by institutional investors.

About Vertical Aerospace

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.