Barclays Upgrades Vertical Aerospace (NYSE:EVTL) to Hold

Vertical Aerospace (NYSE:EVTL) was upgraded by investment analysts at Barclays to a “hold” rating in a research note issued to investors on Friday, Zacks reports.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Vertical Aerospace in a research note on Monday, July 27th. Needham & Company LLC lowered their price objective on shares of Vertical Aerospace to $5.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings upgraded Vertical Aerospace from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.12.

Vertical Aerospace Price Performance

Shares of EVTL stock opened at $0.53 on Friday. The firm has a fifty day moving average of $0.73 and a two-hundred day moving average of $1.69. The firm has a market cap of $73.76 million, a P/E ratio of -0.35 and a beta of 1.55. Vertical Aerospace has a 1-year low of $0.50 and a 1-year high of $7.33.

Vertical Aerospace (NYSE:EVTL) last released its earnings results on Friday, August 14th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). On average, sell-side analysts expect that Vertical Aerospace will post -1.14 EPS for the current year.

Hedge Funds Weigh In On Vertical Aerospace

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in Vertical Aerospace during the second quarter valued at approximately $456,000. Cornerstone Capital Inc. bought a new stake in Vertical Aerospace during the second quarter worth approximately $47,000. J. Derek Lewis & Associates Inc. grew its position in Vertical Aerospace by 41.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 32,500 shares of the company’s stock worth $72,000 after buying an additional 9,500 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Vertical Aerospace by 898.1% in the first quarter. Bank of America Corp DE now owns 75,859 shares of the company’s stock valued at $168,000 after buying an additional 68,259 shares in the last quarter. Finally, Saba Capital Management L.P. increased its holdings in shares of Vertical Aerospace by 194.8% in the first quarter. Saba Capital Management L.P. now owns 11,640,503 shares of the company’s stock valued at $25,726,000 after buying an additional 7,691,459 shares in the last quarter. Institutional investors own 81.17% of the company’s stock.

Vertical Aerospace Company Profile

Vertical Aerospace is a United Kingdom-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban and regional air transportation. Its work focuses on creating aircraft that can operate with electric propulsion and produce no in-flight emissions, with the aim of supporting quieter and more sustainable passenger travel.

The company’s principal aircraft is the VX4, an eVTOL vehicle designed to carry a pilot and passengers. Vertical Aerospace is involved in the aircraft’s design, engineering, testing, certification and planned production, as well as the development of related operating and charging infrastructure.