Vertical Aerospace (NYSE:EVTL) Price Target Cut to $11.00 by Analysts at Canaccord Genuity Group

Vertical Aerospace (NYSE:EVTL - Get Free Report) had its price target dropped by equities researchers at Canaccord Genuity Group from $13.50 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 119.69% from the company's current price.

Other equities research analysts have also recently issued reports about the company. D. Boral Capital restated a "buy" rating and set a $15.00 target price on shares of Vertical Aerospace in a research note on Thursday, July 10th. HC Wainwright restated a "buy" rating and issued a $15.00 price objective (up from $12.00) on shares of Vertical Aerospace in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Vertical Aerospace currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.20.

Vertical Aerospace Price Performance

NYSE:EVTL traded up $0.01 during mid-day trading on Monday, hitting $5.01. 1,373,375 shares of the company's stock traded hands, compared to its average volume of 384,191. The firm has a 50 day moving average of $5.57 and a two-hundred day moving average of $5.38. 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 results on Tuesday, May 13th. The company reported $4.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $4.84. Research analysts predict that Vertical Aerospace will post -3.95 earnings per share for the current year.

Institutional Trading of Vertical Aerospace

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new position in Vertical Aerospace during the first quarter worth about $102,000. XTX Topco Ltd purchased a new position in Vertical Aerospace in the 1st quarter valued at $131,000. Connective Capital Management LLC acquired a new position in shares of Vertical Aerospace during the 4th quarter worth $189,000. Renaissance Technologies LLC acquired a new position in shares of Vertical Aerospace during the 4th quarter worth $237,000. Finally, Bank of America Corp DE purchased a new stake in shares of Vertical Aerospace in the 4th quarter worth about $264,000. Hedge funds and other 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.