Vertical Aerospace (NYSE:EVTL) Announces Earnings Results

Key Points

• Vertical Aerospace reported a quarterly EPS of ($2.35), significantly missing analysts' expectations of ($0.43).
• Shares of Vertical Aerospace fell to $6.02, with institutional investors holding 81.17% of the stock.
• Analyst ratings for Vertical Aerospace include several "buy" ratings, with an average target price of $10.83.

Vertical Aerospace (NYSE:EVTL - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($2.35) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($1.92), Zacks reports.

Vertical Aerospace Price Performance

Shares of NYSE EVTL traded down $0.14 during mid-day trading on Tuesday, hitting $6.02. 593,343 shares of the company were exchanged, compared to its average volume of 835,717. The stock has a 50 day simple moving average of $5.95 and a 200-day simple moving average of $4.97. Vertical Aerospace has a 1-year low of $2.76 and a 1-year high of $15.99.

Institutional Trading of Vertical Aerospace

A hedge fund recently bought a new stake in Vertical Aerospace stock. Goldman Sachs Group Inc. bought a new stake in shares of Vertical Aerospace Ltd. (NYSE:EVTL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 30,305 shares of the company's stock, valued at approximately $102,000. 81.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EVTL. Canaccord Genuity Group lowered 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. D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research note on Tuesday, July 22nd. HC Wainwright reissued a "buy" rating and set a $15.00 price target (up from $12.00) on shares of Vertical Aerospace in a research report on Monday, June 9th. Finally, Needham & Company LLC assumed 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 for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.83.

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.

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