EVTL

Canaccord Genuity Upgrades Vertical Aerospace (EVTL)

Fintel reports that on February 21, 2024, Canaccord Genuity upgraded their outlook for Vertical Aerospace (NYSE:EVTL) from Hold to Buy .

Analyst Price Forecast Suggests 43.85% Upside

As of January 19, 2024, the average one-year price target for Vertical Aerospace is 0.94. The forecasts range from a low of 0.76 to a high of $1.05. The average price target represents an increase of 43.85% from its latest reported closing price of 0.65.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Vertical Aerospace is 0MM, a decrease of NaN%. The projected annual non-GAAP EPS is -0.84.

What is the Fund Sentiment?

There are 31 funds or institutions reporting positions in Vertical Aerospace. This is an increase of 3 owner(s) or 10.71% in the last quarter. Average portfolio weight of all funds dedicated to EVTL is 0.03%, a decrease of 73.28%. Total shares owned by institutions decreased in the last three months by 58.92% to 2,237K shares. EVTL / Vertical Aerospace Ltd. Put/Call Ratios The put/call ratio of EVTL is 0.07, indicating a bullish outlook.

What are Other Shareholders Doing?

EVTL / Vertical Aerospace Ltd. Shares Held by Institutions

PBW - Invesco WilderHill Clean Energy ETF holds 5,071K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 5,308K shares, representing a decrease of 4.66%. The firm decreased its portfolio allocation in EVTL by 16.87% over the last quarter.

Jane Street Group holds 660K shares representing 0.30% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Millennium Management holds 606K shares representing 0.27% ownership of the company. In it's prior filing, the firm reported owning 39K shares, representing an increase of 93.51%. The firm increased its portfolio allocation in EVTL by 670.16% over the last quarter.

Bank Of America holds 142K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%. The firm increased its portfolio allocation in EVTL by 2,345,661.36% over the last quarter.

Renaissance Technologies holds 130K shares representing 0.06% ownership of the company.

Vertical Aerospace Background Information
(This description is provided by the company.)

Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems. Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification, allow for a lean cost structure and enable production at scale. Vertical has receivedconditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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