Vertical Aerospace (NYSE:EVTL) Earns Buy Rating from Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC initiated coverage on shares of Vertical Aerospace (NYSE:EVTL - Get Free Report) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $9.00 price target on the stock. Needham & Company LLC's price target suggests a potential upside of 29.12% from the stock's current price.

A number of other brokerages have also recently weighed in on EVTL. Canaccord Genuity Group reduced their target price on shares of Vertical Aerospace from $13.50 to $11.00 and set a "buy" rating for the company in a report on Monday, July 14th. 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 note on Monday, June 9th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Vertical Aerospace in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Vertical Aerospace Stock Up 8.1%

Shares of EVTL traded up $0.52 during trading hours on Thursday, reaching $6.97. 5,513,809 shares of the company traded hands, compared to its average volume of 449,986. The stock's fifty day moving average price is $5.71 and its 200 day moving average price is $5.25. Vertical Aerospace has a 12-month low of $2.76 and a 12-month high of $15.99.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $4.84. Equities research analysts expect that Vertical Aerospace will post -3.95 earnings per share for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVTL. Goldman Sachs Group Inc. acquired a new stake in shares of Vertical Aerospace during the first quarter worth $102,000. Inherent Management Corp. bought a new stake in shares of Vertical Aerospace in the first quarter valued at approximately $1,109,000. XTX Topco Ltd bought a new position in Vertical Aerospace in the first quarter valued at approximately $131,000. Connective Capital Management LLC acquired a new stake in Vertical Aerospace in the fourth quarter valued at approximately $189,000. Finally, Bank of America Corp DE bought a new position in shares of Vertical Aerospace during the fourth quarter worth about $264,000. Institutional investors own 81.17% of the company's stock.

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.