Brokerages Set Vertical Aerospace Ltd. (NYSE:EVTL) Target Price at $11.80

Vertical Aerospace Ltd. (NYSE:EVTL) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $11.80.

A number of equities research analysts have recently weighed in on EVTL shares. Cantor Fitzgerald restated an “overweight” rating on shares of Vertical Aerospace in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vertical Aerospace in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price objective on shares of Vertical Aerospace in a report on Monday, September 22nd. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Vertical Aerospace in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective (up previously from $9.00) on shares of Vertical Aerospace in a research note on Monday, December 15th.

Hedge Funds Weigh In On Vertical Aerospace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in Vertical Aerospace by 120.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,788 shares of the company’s stock valued at $26,000 after purchasing an additional 2,066 shares during the period. Jones Financial Companies Lllp increased its position in Vertical Aerospace by 144.3% in the third quarter. Jones Financial Companies Lllp now owns 8,211 shares of the company’s stock worth $45,000 after buying an additional 4,850 shares in the last quarter. Quarry LP purchased a new position in Vertical Aerospace during the third quarter valued at approximately $49,000. Oppenheimer & Co. Inc. purchased a new position in shares of Vertical Aerospace during the 3rd quarter valued at $52,000. Finally, Virtu Financial LLC bought a new position in shares of Vertical Aerospace in the third quarter worth about $53,000. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Stock Down 4.9%

Shares of NYSE EVTL opened at $5.23 on Friday. The stock’s 50-day simple moving average is $4.92 and its two-hundred day simple moving average is $5.35. The firm has a market capitalization of $515.61 million, a P/E ratio of -0.11 and a beta of 1.23. Vertical Aerospace has a twelve month low of $2.76 and a twelve month high of $14.62.

Vertical Aerospace (NYSE:EVTL) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). As a group, research analysts anticipate that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

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.