Canaccord Genuity Group Reaffirms Buy Rating for Vertical Aerospace (NYSE:EVTL)

Canaccord Genuity Group reaffirmed their buy rating on shares of Vertical Aerospace (NYSE:EVTL) in a report issued on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a $1.50 target price on the stock.

Vertical Aerospace Stock Up 5.4 %

Vertical Aerospace stock opened at $0.71 on Tuesday. Vertical Aerospace has a one year low of $0.51 and a one year high of $2.09. The business has a fifty day moving average price of $0.84 and a 200-day moving average price of $0.75.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.11) EPS for the quarter. On average, research analysts predict that Vertical Aerospace will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertical Aerospace

A hedge fund recently bought a new stake in Vertical Aerospace stock. Nomura Holdings Inc. acquired a new position in Vertical Aerospace Ltd. (NYSE:EVTL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 150,000 shares of the company’s stock, valued at approximately $177,000. Nomura Holdings Inc. owned approximately 0.07% of Vertical Aerospace as of its most recent filing with the Securities & Exchange Commission. 81.17% of the stock is currently owned by hedge funds and other 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. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.