Brokerages Set Vertical Aerospace Ltd. (NYSE:EVTL) PT at $11.10

Shares of Vertical Aerospace Ltd. (NYSE:EVTL) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.10.

Several research analysts recently weighed in on EVTL shares. HC Wainwright started coverage on shares of Vertical Aerospace in a research report on Friday, February 7th. They issued a “buy” rating and a $12.00 price objective for the company. Canaccord Genuity Group dropped their price objective on shares of Vertical Aerospace from $16.00 to $13.50 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, D. Boral Capital started coverage on shares of Vertical Aerospace in a research report on Thursday, March 27th. They issued a “buy” rating and a $15.00 price objective for the company.

Vertical Aerospace Price Performance

Shares of EVTL opened at $5.77 on Friday. The business’s 50 day simple moving average is $3.82 and its 200-day simple moving average is $5.75. Vertical Aerospace has a one year low of $2.76 and a one year high of $15.99.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $4.44 earnings per share for the quarter, topping the consensus estimate of ($0.40) by $4.84. On average, sell-side analysts predict that Vertical Aerospace will post -3.95 EPS for the current fiscal year.

Institutional Trading of Vertical Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mudrick Capital Management L.P. grew its holdings in 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 valued at $595,582,000 after purchasing an additional 46,943,585 shares during the period. Inherent Management Corp. bought a new position in shares of Vertical Aerospace during the first quarter worth $1,109,000. Marshall Wace LLP bought a new stake in shares of Vertical Aerospace in the 4th quarter valued at $630,000. XTX Topco Ltd bought a new stake in shares of Vertical Aerospace in the 1st quarter valued at $131,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Vertical Aerospace during the 1st quarter worth $102,000. 81.17% of the stock is owned by institutional investors.

About Vertical Aerospace

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.