Vertical Aerospace (NYSE:EVTL) Shares Set to Reverse Split on Monday, September 23rd

Vertical Aerospace Ltd. (NYSE:EVTL) shares are going to reverse split on the morning of Monday, September 23rd. The 1-10 reverse split was announced on Monday, September 16th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 20th.

Vertical Aerospace Stock Down 7.4 %

Shares of NYSE EVTL opened at $0.67 on Friday. The firm’s 50-day moving average price is $0.85 and its 200-day moving average price is $0.81. Vertical Aerospace has a 52-week low of $0.51 and a 52-week high of $1.55.

Analyst Ratings Changes

Several brokerages recently issued reports on EVTL. Canaccord Genuity Group restated a “buy” rating and issued a $1.50 target price on shares of Vertical Aerospace in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft upgraded Vertical Aerospace from a “hold” rating to a “buy” rating and raised their price target for the stock from $1.00 to $1.50 in a research note on Tuesday, July 23rd.

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 in the United Kingdom. It offers VX4, an eVTOL aircraft. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.