Vertical Aerospace Ltd. (NYSE:EVTL) Receives $10.83 Consensus PT from Brokerages

Key Points

• Vertical Aerospace Ltd. (NYSE:EVTL) has received a consensus recommendation of "Moderate Buy" from analysts, with five rating it a buy, one hold, and one sell.
• The average price target set by brokers for Vertical Aerospace is $10.83, indicating potential upside from its current trading price of $6.56.
• Significant institutional interest is noted, as over 81% of Vertical Aerospace's stock is owned by hedge funds and institutional investors, with Mudrick Capital Management increasing its stake dramatically.

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has 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 twelve-month target price among brokers that have covered the stock in the last year is $10.83.

Several research firms have commented on EVTL. Canaccord Genuity Group dropped their price objective on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday, July 14th. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective (up from $12.00) on shares of Vertical Aerospace in a report on Monday, June 9th. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of Vertical Aerospace in a report on Tuesday, July 22nd. Finally, Needham & Company LLC began coverage on shares of Vertical Aerospace in a report on Thursday, July 17th. They issued a "buy" rating and a $9.00 price target on the stock.

Vertical Aerospace Price Performance

EVTL traded down $0.30 during trading on Wednesday, hitting $5.82. 1,572,664 shares of the company traded hands, compared to its average volume of 2,920,871. The stock's fifty day moving average is $5.94 and its 200 day moving average is $5.06. 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 posted its quarterly earnings results on Tuesday, May 13th. The company reported $4.44 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $4.84. On average, research analysts expect that Vertical Aerospace will post -3.95 EPS for the current year.

Institutional Investors Weigh In On Vertical Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mudrick Capital Management L.P. grew its holdings in shares of Vertical Aerospace by 11,735.9% in the fourth quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company's stock worth $595,582,000 after purchasing an additional 46,943,585 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Vertical Aerospace during the fourth quarter valued at $237,000. Marshall Wace LLP purchased a new position in Vertical Aerospace during the fourth quarter valued at $630,000. Jane Street Group LLC purchased a new position in shares of Vertical Aerospace in the 4th quarter worth about $300,000. Finally, Bank of America Corp DE purchased a new position in shares of Vertical Aerospace in the 4th quarter worth about $264,000. 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.