Vertical Aerospace (NYSE:EVTL) Price Target Lowered to $9.50 at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered its target on Vertical Aerospace from $11.00 to $9.50 but maintained a "buy" rating, a price that implies roughly a 271% upside from the stock's recent close.
• EVTL shares traded down to $2.56 (down ~3.4%), near a 12‑month low of $2.44, with a market cap of about $255M and continued negative earnings (Q1 EPS -$0.39; FY forecast -3.95).
• Analyst views are mixed—six buys and two sells yield an average rating of "Moderate Buy" and an average target of $11.10—while institutional ownership is high at 81.17%, with several hedge funds increasing positions recently.

Vertical Aerospace (NYSE:EVTL - Get Free Report) had its target price reduced by analysts at Canaccord Genuity Group from $11.00 to $9.50 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 271.09% from the company's previous close.

Several other equities analysts also recently weighed in on EVTL. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price (up from $9.00) on shares of Vertical Aerospace in a research report on Monday, December 15th. Raymond James Financial cut shares of Vertical Aerospace from a "market perform" rating to an "underperform" rating in a research report on Monday, February 23rd. D. Boral Capital reissued a "buy" rating and issued a $12.00 price objective on shares of Vertical Aerospace in a research note on Tuesday. William Blair assumed coverage on shares of Vertical Aerospace in a report on Wednesday, January 7th. They issued an "outperform" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vertical Aerospace in a research note on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Vertical Aerospace currently has an average rating of "Moderate Buy" and an average target price of $11.10.

Vertical Aerospace Stock Down 3.4%

NYSE:EVTL traded down $0.09 during trading hours on Thursday, reaching $2.56. 905,736 shares of the stock were exchanged, compared to its average volume of 1,263,987. The business has a 50-day moving average of $4.45 and a two-hundred day moving average of $4.96. Vertical Aerospace has a twelve month low of $2.44 and a twelve month high of $7.60. The company has a market capitalization of $255.46 million, a price-to-earnings ratio of -0.83 and a beta of 1.23.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). On average, research analysts forecast that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Vertical Aerospace by 33.5% during the fourth quarter. Millennium Management LLC now owns 2,385,917 shares of the company's stock worth $12,717,000 after buying an additional 598,127 shares in the last quarter. Marshall Wace LLP raised its holdings in Vertical Aerospace by 19.1% in the fourth quarter. Marshall Wace LLP now owns 1,701,501 shares of the company's stock valued at $9,069,000 after acquiring an additional 273,202 shares in the last quarter. Inherent Management Corp. raised its holdings in Vertical Aerospace by 151.3% in the fourth quarter. Inherent Management Corp. now owns 1,331,883 shares of the company's stock valued at $7,099,000 after acquiring an additional 801,883 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Vertical Aerospace by 152.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,010,101 shares of the company's stock worth $5,384,000 after acquiring an additional 610,101 shares during the last quarter. Finally, Kotler Kevin acquired a new position in Vertical Aerospace during the 4th quarter worth approximately $5,009,000. Institutional investors and hedge funds own 81.17% of the company's stock.

About Vertical Aerospace

Vertical Aerospace is a United Kingdom–based aerospace manufacturer specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company is publicly listed on the New York Stock Exchange under the ticker EVTL. Vertical Aerospace's mission is to deliver zero-emission, high-speed electric aircraft designed to transform short-haul journeys in densely populated areas.

The company's flagship model, the VA-X4, is a piloted, five-seat eVTOL craft engineered for quiet operation, low running costs and minimal environmental impact.

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