Brokerages Set Vertical Aerospace Ltd. (NYSE:EVTL) Price Target at $11.10

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $11.10.

Several research firms have issued reports on EVTL. Canaccord Genuity Group lowered their price objective on shares of Vertical Aerospace from $16.00 to $13.50 and set a "buy" rating for the company in a research report on Friday, January 24th. HC Wainwright assumed coverage on shares of Vertical Aerospace in a research note on Friday, February 7th. They set a "buy" rating and a $12.00 price target for the company. Finally, D. Boral Capital assumed coverage on Vertical Aerospace in a report on Thursday, March 27th. They issued a "buy" rating and a $15.00 price target for the company.

Vertical Aerospace Stock Performance

Vertical Aerospace stock traded down $0.43 during mid-day trading on Friday, hitting $5.15. The company's stock had a trading volume of 342,627 shares, compared to its average volume of 193,844. The company has a 50 day moving average of $3.93 and a 200-day moving average of $5.75. Vertical Aerospace has a one year low of $2.76 and a one year high of $15.99.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $4.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $4.84. As a group, analysts expect that Vertical Aerospace will post -3.95 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

A number of hedge funds have recently added to or reduced their stakes in the business. Connective Capital Management LLC purchased a new position in Vertical Aerospace during the 4th quarter valued at about $189,000. Renaissance Technologies LLC purchased a new position in Vertical Aerospace during the fourth quarter valued at approximately $237,000. Bank of America Corp DE bought a new position in Vertical Aerospace in the fourth quarter worth approximately $264,000. Jane Street Group LLC purchased a new stake in Vertical Aerospace during the fourth quarter worth $300,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Vertical Aerospace during the first quarter worth $102,000. 81.17% of the stock is owned by hedge funds and other 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.