Vertical Aerospace (NYSE:EVTL) Shares Gap Up Following Analyst Upgrade

Vertical Aerospace Ltd. (NYSE:EVTL - Get Free Report) gapped up before the market opened on Monday after Canaccord Genuity Group raised their price target on the stock from $15.00 to $16.00. The stock had previously closed at $5.38, but opened at $6.20. Canaccord Genuity Group currently has a buy rating on the stock. Vertical Aerospace shares last traded at $5.94, with a volume of 714,189 shares traded.

Separately, Barclays upped their target price on Vertical Aerospace from $0.75 to $2.00 and gave the company an "underweight" rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mudrick Capital Management L.P. increased its stake in shares of Vertical Aerospace by 11,735.9% during the fourth quarter. Mudrick Capital Management L.P. now owns 47,343,585 shares of the company's stock worth $595,582,000 after acquiring an additional 46,943,585 shares during the period. Inherent Management Corp. purchased a new stake in Vertical Aerospace in the 1st quarter valued at approximately $1,109,000. Marshall Wace LLP purchased a new stake in Vertical Aerospace in the 4th quarter valued at approximately $630,000. XTX Topco Ltd acquired a new position in Vertical Aerospace during the 1st quarter worth approximately $131,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Vertical Aerospace during the 1st quarter worth approximately $102,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Vertical Aerospace Stock Down 1.0%

The firm has a fifty day moving average price of $4.46 and a 200 day moving average price of $5.83.

Vertical Aerospace (NYSE:EVTL - Get Free Report) last issued its quarterly earnings data 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. Sell-side analysts anticipate that Vertical Aerospace Ltd. will post -3.95 earnings per share for the current fiscal year.

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.