Vertical Aerospace (NYSE:EVTL) Receives "Buy" Rating from D. Boral Capital

Key Points

• D. Boral Capital reiterated a "Buy" rating and set a $12.00 price target, implying roughly a 350% upside from the prior close.
• Analyst coverage is mixed — six Buys and two Sells produce an average "Moderate Buy" consensus and an average target price of $11.10.
• EVTL trades around $2.67 with a market cap of about $272.7M and negative earnings (last quarter EPS -$0.39); institutional investors own roughly 81.17% of the shares, and several hedge funds recently increased stakes.

Vertical Aerospace (NYSE:EVTL - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at D. Boral Capital in a report released on Thursday,Benzinga reports. They presently have a $12.00 price target on the stock. D. Boral Capital's price target would suggest a potential upside of 350.28% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. Raymond James Financial downgraded shares of Vertical Aerospace from a "market perform" rating to an "underperform" rating in a research report on Monday, February 23rd. Canaccord Genuity Group reduced their price target on shares of Vertical Aerospace from $11.00 to $9.50 and set a "buy" rating for the company in a research report on Thursday, March 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Vertical Aerospace in a research report on Wednesday, January 21st. Finally, William Blair initiated coverage on shares of Vertical Aerospace in a research report on Wednesday, January 7th. They set an "outperform" rating for the company. Six equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.10.

Vertical Aerospace Stock Performance

Shares of EVTL opened at $2.67 on Thursday. The stock has a market cap of $272.71 million, a PE ratio of -0.87 and a beta of 1.46. Vertical Aerospace has a fifty-two week low of $1.90 and a fifty-two week high of $7.60. The firm's 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $4.64.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). Equities research analysts predict that Vertical Aerospace will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTL. Millennium Management LLC lifted its position in Vertical Aerospace by 293.4% during the third quarter. Millennium Management LLC now owns 1,787,790 shares of the company's stock valued at $9,279,000 after purchasing an additional 1,333,312 shares during the period. Kotler Kevin bought a new position in Vertical Aerospace during the fourth quarter valued at approximately $5,009,000. Inherent Management Corp. lifted its position in Vertical Aerospace by 151.3% during the fourth quarter. Inherent Management Corp. now owns 1,331,883 shares of the company's stock valued at $7,099,000 after purchasing an additional 801,883 shares during the period. Marshall Wace LLP lifted its position in Vertical Aerospace by 81.1% during the third quarter. Marshall Wace LLP now owns 1,428,299 shares of the company's stock valued at $7,413,000 after purchasing an additional 639,404 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Vertical Aerospace by 152.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,010,101 shares of the company's stock valued at $5,384,000 after purchasing an additional 610,101 shares during the period. Institutional investors own 81.17% of the company's stock.

Vertical Aerospace Company Profile

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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