Stock analysts at Canaccord Genuity Group initiated coverage on shares of Vertical Aerospace (NYSE:EVTL - Get Rating) in a research note issued on Friday, Briefing.com reports. The firm set a "hold" rating and a $2.00 price target on the stock. Canaccord Genuity Group's price target points to a potential upside of 6.38% from the company's previous close.
Vertical Aerospace Stock Down 3.1 %
Shares of NYSE EVTL opened at $1.88 on Friday. Vertical Aerospace has a twelve month low of $1.41 and a twelve month high of $11.58. The company has a current ratio of 6.67, a quick ratio of 6.67 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.34.
Vertical Aerospace (NYSE:EVTL - Get Rating) last issued its quarterly earnings results on Wednesday, March 22nd. The company reported $0.27 earnings per share for the quarter. Analysts expect that Vertical Aerospace will post -0.55 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. JPMorgan Chase & Co. acquired a new position in Vertical Aerospace during the 1st quarter valued at approximately $198,000. Penserra Capital Management LLC boosted its position in Vertical Aerospace by 54.4% during the 1st quarter. Penserra Capital Management LLC now owns 10,358 shares of the company's stock valued at $72,000 after purchasing an additional 3,651 shares during the period. UBS Group AG boosted its position in Vertical Aerospace by 1,048.3% during the 1st quarter. UBS Group AG now owns 32,325 shares of the company's stock valued at $225,000 after purchasing an additional 29,510 shares during the period. Goldman Sachs Group Inc. acquired a new position in Vertical Aerospace during the 1st quarter valued at approximately $910,000. Finally, Polar Capital Holdings Plc acquired a new position in Vertical Aerospace during the 1st quarter valued at approximately $154,000. Institutional investors and hedge funds own 1.42% of the company's stock.
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. It offers VX4, an eVTOL aircraft. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.
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