Vertical Aerospace (NYSE:EVTL) Now Covered by Analysts at Needham & Company LLC

Analysts at Needham & Company LLC started 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 objective would suggest a potential upside of 39.95% from the company's previous close.

A number of other research analysts have also recently weighed in on EVTL. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price target on shares of Vertical Aerospace in a research report on Thursday, July 10th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective (up previously from $12.00) on shares of Vertical Aerospace in a research note on Monday, June 9th. Finally, 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 research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Vertical Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Vertical Aerospace Price Performance

Shares of EVTL traded up $0.74 during mid-day trading on Thursday, hitting $6.43. The company had a trading volume of 5,900,637 shares, compared to its average volume of 426,257. The business's 50-day simple moving average is $5.66 and its 200-day simple moving average is $5.34. Vertical Aerospace has a 1-year low of $2.76 and a 1-year high of $15.99.

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

Institutional Trading of Vertical Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in Vertical Aerospace during the first quarter valued at $102,000. Inherent Management Corp. acquired a new position in shares of Vertical Aerospace during the first quarter valued at $1,109,000. XTX Topco Ltd acquired a new position in shares of Vertical Aerospace during the first quarter valued at $131,000. Connective Capital Management LLC acquired a new position in shares of Vertical Aerospace during the fourth quarter valued at $189,000. Finally, Bank of America Corp DE acquired a new position in shares of Vertical Aerospace during the fourth quarter valued at $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.